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Our Bureau

Mumba, Dec. 20

Pioneer Embroideries Ltd is expanding its retail presence in the country and abroad by adding 200 Hakoba stores in the next three years to raise the total number of stores to 250. It will involve a capital expenditure of around Rs 100 crores spread over the next 3 years.

Overseas, the company is planning to open stores in West Asia, the UK and the US. Of the 200 stores, 65 will be opened by the end of the current financial year. Most of the stores will be franchisee-owned with around 30 per cent being owned by the company.

"We are aggressively looking at expanding our retail presence through Hakoba Lifestyle Ltd. Garment retailing is an opportunity we are trying to capitalise on. We hope to have at least 65 stores up and running by the end of current financial year," said the company's Director, Mr Ajay Kumar Aggarwal.

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