Shoppers Stop Limited, one of India’s leading department store chains, reported that 69% of its total sales in Q2 FY26 came from premium and luxury categories, marking the company’s strongest premium mix ever. This shift toward high-end retail – across beauty, fashion, and accessories – is driving higher profitability in its core business and reinforcing customer loyalty.
The company’s gross revenue for Q2 FY26 stood at ₹1,175 crore, up 10% year-on-year, supported by strong demand for premium brands and steady growth in the beauty and apparel categories. The core business recorded a profit before tax of ₹9 crore, turning around from a ₹12 crore loss in the same period last year. However, the overall company reported a net loss of ₹23 crore, as its new ventures – INTUNE and SSBeauty.in – continue to be in their early investment phase.
The beauty segment remained a key growth driver, rising 22% year-on-year and now contributing 19% of total sales. Premium international brands such as Armani, Prada, NARS, Bobbi Brown, and Estée Lauder strengthened the company’s beauty portfolio, while exclusive brand stores and online platforms helped expand reach among younger consumers.
The company’s loyalty program, First Citizen, continued to deliver exceptional results, contributing nearly 80% of overall sales. With a base of 13 million members, Shoppers Stop leverages customer data and personalisation tools to enhance engagement and repeat purchases. Its omni-channel strategy, integrating online and offline experiences, is helping the brand deepen customer connections across India.
Shoppers Stop’s value fashion venture, INTUNE, also gained strong traction, reporting 70% growth during the quarter. The company plans to expand the INTUNE network further as it taps into the affordable fashion segment while maintaining its premium focus in core stores.
Managing Director and CEO Kavindra Mishra said that the company’s premiumisation strategy is yielding solid results and remains central to its long-term growth plan. He emphasised that Shoppers Stop’s balanced portfolio – combining luxury brands, beauty, and value fashion – positions it well for the upcoming festive season and beyond.
During the quarter, Shoppers Stop opened seven new stores, taking its total presence to over 70 cities, and plans to add at least 10 more stores in Q3 FY26. The company is also expanding its beauty distribution business, which grew by over 100% year-on-year, supported by new brand partnerships and category extensions.
Founded in 1991, Shoppers Stop Limited is one of India’s most trusted retail names, offering curated selections across fashion, beauty, and lifestyle. Over the decades, it has built strong relationships with both global luxury brands and Indian consumers, positioning itself as a preferred destination for modern, premium retail experiences.
With its growing focus on premiumisation, digital engagement, and customer loyalty, Shoppers Stop is building a stronger and more profitable retail model – one that blends heritage with innovation and sets the tone for the next phase of India’s aspirational consumer growth story.
