Pantaloons, part of Pantaloon Retail, said it will increase its retail space from 1.5 million sq feet to 3 million sq feet in next three years. The company said it is assessing the impact of excise duty imposition and will hike prices in the near term.

Future Group's Managing Director and CEO Mr Kishore Biyani had yesterday announced that the company has undertaken an 18 per cent hike of its merchandise from this month.

The 10 per cent excise duty in branded apparel would result in 10-15 per cent increase in the prices of garments and made-up textiles.

“Price hike is under discussion and we will also take necessary steps to offset input costs,” Mr Pankaj Tibrewal, Chief Operating Officers, Pantaloons, said. The company which opened its 54th outlet in the country, said Delhi-NCR is a key market for the brand.

Speaking on its retail expansion, Mr Tibrewal said the augmentation in its retail space will add 50 stores in next three years.

“We have worked towards providing customers an international experience in our stores at a value,” he said without outlining the investment into the proposed expansions.

Pantaloons has about 20,000 stock keeping units across categories like apparels, accessories and footwear. Its brands include John Miller, Lombard, Urbana, Scullers, Indigo Nation and in-house brands like Rangmanch, Trisha, among others.

At present, private labels contribute about 50-60 per cent to the turnover. The company said it also has seven international brands under its portfolio.

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