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Promart stands out as discount apparel retailer
24
Sep '12
Mr. Punit Agarwal
Mr. Punit Agarwal
The once booming discounted apparel retail industry in India is going through a low phase. Many discount stores have closed down in the past one year because of fewer footfalls and piled-up unsold inventory. But, Promart Retail India Pvt. Ltd. stands out.
 
Mr. Punit Agarwal, CEO of Promart, spoke to fibre2fashion on the strategies his company is implementing in order to cope with the crisis which is bogging down the discount retailers everywhere.
 
“Inventory pile up is a major concern most retailers face to survive in this industry, but as far as Promart is concerned, we believe that if one can manage inventory, logistics, real estate and manpower, then one can be successful into the retail business and emerge as a winner,” avers Mr. Agarwal.
 
“We understand that consumer is the king today and we take utmost care on the treatment and attendance given to shoppers. At our stores, all the brands are stocked up with proper racks and shelves in a freshly lit ambience, which makes shopping a pleasing experience. Besides, we have a warm and courteous staff that takes care of all the needs and desires of our shoppers,” he says.
 
 “Promart’s inventory is managed on a cash-and-carry model by getting the latest stock, colors and designs from our anchor brands. We have a no-warehousing concept thus the goods are directly transferred to our stores from our distribution centre,” he adds.
 
“Besides, we follow a cluster strategy, which cuts down logistic costs further for example if the company is focusing on Gujarat as a market to expand operations, we will select areas in and around that region with opening stores in Ahmedabad, Vadodara, Vapi and Rajkot,” he explains.
 
He further reveals, “Promart will be opening small stores of an average size of 1500 to 2000 sq ft, which in the long run will help save capex and inventories”.
 
When quizzed about the mistakes made by other discount stores, which forced them to shutdown, he replies, “The reasons most of these discount retailers have gone wrong are several, such as high real estate prices and increased overhead and logistics costs, as well as no proper inventory management system in place.”
 
Citing the reasons for Promart’s growing popularity in small cities, he says, “When it comes to fashion, consumers in Tier II to Tier VI cities are not very experimental. Moreover, people living in these towns do not have too many entertainment options either. So, shopping is amongst the few things that they could opt for. Since, they do not have the right access to merchandise or an appetite for fashion, Promart is their best bet.” 
 

Fibre2fashion News Desk - India

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