Garment retailers on space hunt
\nBusiness Standard, India
\nPradipta Mukherjee \/ Kolkata April 03, 2014<\/p>\n
<\/p>\n
Major garment brands are on a retail overdrive and are expected to create demand for over 100 units of quality retail space in the next one year, a development that will surely bring cheer to the many developers building retail space in the country.<\/p>\n
Though some surveys have warned that there could be an oversupply situation in retail space in the end of 2014, the confidence and response of some of the major garment retailers reveal massive expansion plans driven by demand for quality retail space<\/p>\n
Increasing retail presence and buckling stores into destination shopping zones seem to be working with most garments and apparel majors in India.<\/p>\n
In the face of retail boom, apparel majors have recognised escalating retail presence across the country as one of the imperative growth drivers for 2014.<\/p>\n
For example, Cottons by Century, the apparel brand from B K Birla’s flagship Century Textile and Industries Ltd, is planning to open 100 more company-owned-managed stores and about 50 franchisee outlets, taking the total number of stores to close to 250 by March 2014, with an aim to generate a turnover of Rs 100 crore by next fiscal, from Rs 50 crore at present.<\/p>\n
“One of our thrust areas this year would be increasing our retail presence across the country, especially smaller towns and cities which lie untapped,” said Mahendra Padhy, head-marketing, Cottons by Century.<\/p>\n
Agreed Yash Manik, head \u00e2\u20ac\u201c retail operations, Brandhouse Retails, a subsidiary of S Kumars Nationwide Ltd. “With rising disposal income levels, even tier I and tier II towns and cities are becoming significant consumers as branded clothing become more affordable ,” said Manik.<\/p>\n
Brandhouse Retails plans a total of 1200 stores this year for its brands \u00e2\u20ac\u201c Reid & Taylor, Belmonte, Carmichael House \u00e2\u20ac\u201c 50 per cent of which would be run on franchisee model and rest company-owned and managed.<\/p>\n
Thomas Scott, the Rs 65 crore apparel brand of the Rs 800 crore Bang group of companies, is also planning aggressive retail expansion this year.<\/p>\n
“For a not-so-exposed menswear brand like Thomas Scott, retail expansion is imperative to ensure visibility that lead to higher sales margin too. This year, therefore, most of our expansion plan would centre around retail expansion and as local a presence as possible,” said Kumar Menon, CEO of Thomas Scott, which plans to have a total of 100 stores by 2014 from the present 4. These would be run on franchisee model covering 800 sq ft on an average per store.<\/p>\n
Other apparel brands like Park Avenue which is also the highest selling brand of Raymond, is planning a total of close to 55 exclusive outlets all over India by December 2014, from close to 12 at present.<\/p>\n","protected":false},"excerpt":{"rendered":"
Garment retailers on space hunt Business Standard, India Pradipta Mukherjee \/ Kolkata April 03, 2014 Major garment brands are on a retail overdrive and are expected to create demand for over 100 units of quality retail space in the next one year, a development that will surely bring cheer to the many developers building retail […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n