Shoppers Stop, one of India?s biggest fashion and lifestyle store has got exclusive licensing rights for Playboy. Under the agreement Shoppers Stop has opened shop-in-shops for the life style brand. Govind Shrikhande, President and CEO, Shoppers Stop explains, ?It?s an exclusive arrangement for the next five years. Based on that there will be auto renewal of the business. We don?t have much investment. The stock comes and it sells. We have invested in merchandize, fixtures. We don?t look at it as an investment but see it as an aspirational brand from Chicago.? Shrikhande says if they go for a standalone, it will require a lot of investment. ?So when the store is already there, we look at fit-outs. And the fit-outs and merchandize in the initial stages are not big investments. We share the investment with them,? he adds.Having got the licensing rights, Shoppers Stop now plans to expand the brand. It currently has six stores for the brand. These are in Juhu, Vashi and Mulund in Mumbai one in Saket, Delhi and the others are in Amritsar and Bangalore. In the next two to three months, they plan to open three to four stores. ?We are looking at one more store in Mumbai, Aurganabad and Bhopal. In the next two years, we will have 20 shop-in-shops within Shoppers Stop,? he informs. For Playboy they have given 250 to 300 sq. ft. space. Moreover, in some places they have launched collections only for women. For example, in the Mulund store, they have only women?s apparel. ?It?s a niche brand. There is no point having a large space and giving everything there,? Shrikhande says.
The merchandize for Playboy is party imported and partly manufactured. This is because Shoppers Stop does not have a direct license for the brand. Evinx Fashion, a Delhi-based exporter has the license and Shoppers Shop have taken it from them. This is an exclusive license to distribute within Shoppers Stop. Shrikhande elucidates, ?This is how the arrangement is with the Indian partner. We don?t have a direct license. It?s a partnership between the Indian license holder and Shoppers Stop. They may open standalones in the near future but not near a Shoppers Stop, which has a Playboy shop-in-shop. We don?t compete.?
Playboy is a super premium brand. Where Indian brands are priced at Rs 1,400 to Rs 1,800, the Playboy denims are priced slightly higher between Rs1,999 to Rs 2,099. Playboy also focuses a lot on accessories because that?s what today?s youth are looking for. ?We already have everything within the Playboy range, be it apparel or accessories. As and when we open new stores, it will be included in all the stores,? concludes Shrikhande.