Business Daily from THE HINDU group of publications
Saturday, Jul 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jul 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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Strategy Web Extras - Retailing Arvind launching new stores for global brands Our Bureau Pune, July 18 Arvind Brands and Retail, owner of the Megamart stores, will set up a new chain of stores to house premium and super-premium international apparel brands that it has recently signed licence agreements with. The first store under this format will be opened by March 2009, Mr J. Suresh, CEO, has said. Amongst the brands that will be retailed through these new format stores will be Pierre Cardin, Hart Schaffner Mark (suits), Izod (sportswear) and Sansabelt (trousers). “We will firm up details over the next two months and expect to launch the first store at Mumbai, Bangalore or Delhi,” Mr Suresh said, adding that the premium and super-premium apparel would also be sold through Shoppers Stop and Central outlets. ExpansionThe retail division of Arvind Ltd has also chalked out an expansion plan for its existing formats such as Megamart and Megamart Outlet Centres. “The number of Megamart stores will increase from 95 in 45 towns to 140 in 70 towns during this fiscal, while we expect to add five large format Megamart Outlet Centres during this fiscal,” Mr Suresh said, indicating that this would involve a capital expenditure of Rs 60 crore. For the first time, Arvind is experimenting with the franchisee route for expansion of the Megamart, and is setting up pilots in Tamil Nadu and Andhra Pradesh by October, and hopes to set up at least 10 franchisee stores during 2008-09. The company has also undertaken expansion of its stores for its existing brands such as Flying Machine, Excalibur, Newport and Arrow, and will invest Rs 75 crore in this exercise, Mr Suresh said. More Stories on : Strategy | Retailing
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