Home / Knowledge / News / Apparel/Garments / Promart to open 100 new stores by 2013
Promart to open 100 new stores by 2013
12
Jun '12

Planning to launch 100 new stores by 2013, multi-brand discounted retail chain, Promart Retail India, has inked 50 franchises.

The new outlets are proposed to be launched in Tier II and Tier III cities in Himachal Pradesh, Haryana, Maharashtra, Jammu and Kashmir, Rajasthan and Punjab, with each outlet necessitating an initial investment of one million rupees and retail space of about 750-1,000 sq ft.
 
At present, the company operates outlets in Ahmedabad, Mumbai, Vadodara, Vapi, Rajkot and Aurangabad.
 
Managing Director of Promart Retail, Mr. Ashish Garg said penetration in smaller cities forms a part of their overall business strategy. He said they intend to open 100 new stores in the cities that they have identified as potential retail markets by 2013. 
 
The company would open the new outlets through the franchise model and expects the model to generate a turnover of two billion rupees, Mr. Garg said.
 
Launched by Provogue India, the Promart Retail chain was acquired by VEMB Lifestyle Pvt Ltd and Apple Group of Companies in 2011. As a part of the deal, the two acquirers obtained full control over the assets and intellectual property of the brand.
 
The retailer now holds licences for more than 50 brands including Pepe, Spykar, Levis, Wrangler, Lee, J. Hampstead, Arrow, Gini & Jony, Black Panther, Puma, Mufti and Sepia.
 
 

Fibre2fashion Newsdesk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search