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The year gone by has been a year of two distinct halves. Whilst the first half was marked by a sense of economic sluggishness and consumption slowdown, the second saw a paradigm shift in economic sentiment and a substantial improvement on consumption and discretionary spends. In effect, whilst the first half of the year showed subdued growth, the second half of the year recorded robust growth.
Your Company has continued to ramp up its store presence, across the country, in all its formats, in keeping with its vision of being a leader and pioneer in Indian modern retail. During the year, your Company has launched 5 Shoppers Stop department stores, 2 Homestop stores, 8 MAC stores, 4 Clinique stores and 1 Estee Store.
For the year 2012–13, your Company has achieved revenues of Rs.2560 crores, up by 17%.
In the year gone by, your Company saw a Like–to–Like sales growth of 7% whilst chain level growth in sales was 17%. The Average Selling Price & Transaction Size have seen growths of 8% and 7% respectively over the last year.
As part of our continuous endeavour to grow and penetrate the market, your Company opened 5 new Shoppers Stop stores during the year, one each at Pune, Jalandhar, Coimbatore and 2 stores at Bengaluru. At a chain level your Company has added more than 3,00,000 square feet in the year 2012–13.
Your Company's loyalty programme, The First Citizens Club achieved a major milestone in FY 12–13. The total membership of the programme crossed the 2.8 million markand today is one of the largest loyalty programmes across sectors. Your Company's First Citizens continue to be a huge bastion of support for your Company, and have contributed to 71% of your Company's sales. As our loyalty programme grows, our Facebookfan club is also growing very fast. It has now crossed 44 lac fans. It is very important for a retail company like yours to remain in touch with customers at all the times and social media is an important avenue to remain in constant touch with customers.
In the year under review, your Company received a number of coveted awards. These have been featured on page nos. 20 and 21 of this Annual Report. The significant awards are "The Best Performer in Retail category" amongst top 500 of India in the "Dun & Bradstreet – Rolta Corporate Awards 2011", "Leadership Governance Award" in service category at the QIMPRO BEST PRAX CONCLAVE 2012, "The Most Admired Retail Group of the Year" at IRF 2012 awards, "The Most Admired Home Format of the Year", at IRF 2012 awards, "Certificate of Distinction" in Top 10 Retailers Award by Retail Asia–Pacific Top 500–2012, Silver Award from DMAI (Direct Marketing Association) for its "Choose your Own Gift" campaign, "Top Class Brand Award 2012–13" to Shoppers Stop and "Rashtriya Udyog Ratna Award" to Mr. Govind Shrikhande and "Department Store of the year" award in Star Retailers Award 2012. World Retail Congress 2012–13, has awarded your Company with "Best Talent Management Award for BABY KANGAROO PROGRAMME", Organisation with innovative HR practices "I PLEDGE", Learning and Talent Initiative Exercise for "Lead & Leap programme" and Best Online Retailer of the year (Department Store). ET Retail Awards has bestowed your Company with the "Most Trusted Retailer of the Year–Popular C hoice". The 6th Loyalty Summit has conferred your Company with "Loyalty Program of the year, Retail" large format for the second consecutive year, "Best use of Social media to enhance Loyalty" award and "Champion of Champions – Loyalty Program of the year. The prestigious Indian Digital summit (hosted by IAMAI) awarded your Company with the "Best Mobile Marketing Campaign" award. At the recent POP– Instore Asia and Visual Merchandising & Retail Design Awards 2013, your Company received "Best Store Award > 20,000 sq.ft for R–city Mumbai, Store Planning team, "Green Initiative Award" – to Andheri store, Projects team, "Best Window Display" and "Best Visual Merchandising" to Visual Merchandising Team. Your Company also entered Limca Books of Records for creating "India's largest men's formal Jacket", and "For Largest Book". These awards only reiterate the respect and admiration that your Company commands in the industry and amongst its peers.
Your Company continues to focus on profitable growth in all its business formats and endeavours. With the unwavering support of your Company's customers, shareholders, associates and vendor partners, your Company and its management is confident of riding the crest of Indian retail and consumption.
CHANDRU L. RAHEJA