Business Daily from THE HINDU group of publications
Friday, Jun 16, 2006
Business Daily from THE HINDU group of publications Friday, Jun 16, 2006 |
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Marketing
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Retailing States - Maharashtra Revolutions opening Pune outlet with `relaxation spa' Our Bureau
Pune , June 15 After tasting success in many cities, Revolutions Store, the flagship of Liberty Retails Revolutions Ltd, is making its presence felt in Pune. It would be the first outlet with `relaxation spa' named Zanaat. Mr Anupam Bansal, Director, Liberty Group, told presspersons that Zanaat would be launched after a month and would offer customers the treat of relaxation. This would include foot massage, manicure, pedicure and other services, which would be `non-water related' and would be a charged service. He said plans are also on to extend Zanaat to New Delhi by September. Spread over 2,000 sq ft area, the store would display other high-end fashion products including leather and travel accessories, watches and artificial jewellery. These are being sourced from designers as well as the international market and the company is test marketing the range of jewellery and watches.
`No apparel plans'
Asked whether the company would enter the apparel segment like other competitors, he said it is keen to focus on the accessories segment and apparel entry is not on its radar. Revolutions in Pune is the 14th of its store and already has stores in Mumbai, Chennai, Hyderabad, Kolkata, New Delhi, Lucknow and Indore. This is the second project in the second phase of expansion that would take Revolutions to other cities including Jaipur and Chandigarh. Commenting on the market expansion initiative of Footmart, Mr Bansal said this would be a multi-brand centre and would have two platforms — Value and Lifestyle. Value would be more occasion-centric while Lifestyle would cater to the high-end segment. He said Lifestyle would become operational by Diwali while noting that the location would be either Bangalore or Noida. The company expects to post Rs 500-crore revenue within five years with about 80 stores spread across the country. Footmart Retail India Ltd is a 49:51 joint venture between Liberty and Pantaloon which has been formed to increase the company's market share in organised and urban areas.
New plants
Mr Anupam said that to cater to the increasing demands, the company is setting up two plants, one in Himachal Pradesh and the other in Uttaranchal with a total investment of Rs 60 crore. The Himachal Pradesh plant would become operational by September while that of Uttaranchal, by January 2007. This would increase the production capacity by 25,000 pairs per day. It may be noted that Liberty currently has three plants in Haryana and one in Uttaranchal with a total production capacity of 50,000 pairs per day. With these new plants, the total production capacity would touch 75,000 pairs per day. Looking at the financials, Mr Bansal said Liberty footwear segment has notched a turnover of Rs 221 crore for the fiscal ended March 2006 and is looking at a target of Rs 265 crore for the current fiscal.
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