Numero Uno: Numero Uno plans to open 36 stores in next 3 years
Denim brand Numero Uno is
looking to open about 36 stores in the next three years in regions other than
northern India, where it has strong presence through a network of over 180
stores.As part of its expansion plans, the company will be tapping
the southern and western market and is betting big on the demand from the
regions.
The company will be investing over Rs 10 crore to open the stores."We
would be opening 12 stores per year for the next three years, mostly in South
andWest India considering
less presence in those regions compared to north India," Numero Uno Clothing Ltd CMD Narinder
Singh Dhingra told .East India is also on
our cards as the market has a huge potential, he added.The domestic apparel brand,
which was once known as a jeanswear maker, has expanded its collections,
including shirts, t-shirts and footwear, among others, and aims at gaining
greater market share of the segment.
Incorporated in 1987, the company, which has never exported its products, is
looking at various options to export from the next year.The company is looking
at a 15-20 per cent revenue growth, taking into account the planned expansion.When asked about the investment, Dhingra said: "For an average size store
of 600 square feet, the investment comes to between Rs 25-35 lakhs, which is
what we are planning to do".The company also announced its foray into the
premium sportswear segment ''athleisure'' and aims to grab a substantial market
share over the years.Athleisure is a trend in
which clothing designed for workouts and other athletic activities is worn in
other settings, such as workplace, school or other casual or social occasions.
Source: Et.retail.com,India
Monday, 27 November 2017