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Hyderabad, Sept. 4 Prateek Lifestyle, an arm of the apparel manufacturer, has opened its third discount retail format ‘Coupon’ here after Bangalore and Raipur.

Addressing a press conference here on Thursday, Mr Pradeep Agarwal, Managing Director of Prateek Apparels, said the company would open two more such outlets in Faridabad and Calicat in the next few weeks. “Next year, we will open 12 more stores. We would have invested Rs 140 crore by March 2009,” he said.

“We entered into agreements with several brands to sell their products at a discounted price. We have lined up over 150 brands in footwear, accessories, apparel and home décor products,” he said.

“While making our presence felt in top cities, we are also looking at tier-II and tier-III cities like Ghaziabad and Jalandhar,” Mr Agarwal said.

The company, which had received a round of venture capital funding from SIDBI, had recently announced plans for investments to the tune of Rs 350 crore on its retail initiative to set up a network of 50 stores by 2012.

More Stories on : Retailing | Readymade Garments | Andhra Pradesh

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