The Hindu Business Line : Megamart eyes small towns

Megamart, the apparel discount chain from Arvind Brands, has drawn up an aggressive expansion plan, which will see it tapping more into smaller towns and tier-II cities.

In five years, Megamart, which sells a range of international and domestic apparel brands at discounted prices, aims to be in 100 cities. It is targeting 150 stores (from 54) — covering a total retail space of 5.5 lakh sq ft. "This year, we will invest Rs 30-40 crore and add 10 more stores," said Mr J. Suresh, COO, Arvind Brands, during the launch of the Megamart-ICICI Bank co-branded credit card. Megamart, which finished 2006-07 with a turnover of Rs 100 crore, has a footfall of 2 million per annum.

More Stories on : Strategy | Retailing | Credit Cards & Debit Cards | ICICI Bank Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Hyundai Motor may bring auto finance arm to India

Megamart eyes small towns

Timex keen on high-end watches

Indians prefer to `discover and converse'

`Retail, media, FMCG will be active hiring sectors in Q1'

Food authority planned for monitoring reforms

Sponsors not jolted by BCCI decision to cap endorsements

Special recharge offer from Idea

BPCL to sell BSNL products

Madura pulling out SF Jeans

Bubbly takes on beer, soft drinks