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Promart plans to open 170 outlets in smaller Indian cities
17 Dec '12
1 min read
Promart, India’s multi-brand discount clothing retailer plans to launch nearly 170 new outlets in Indian Tier II to Tier VI cities by the Fiscal Year 2014, the company’s CEO Punit Agarwal told PTI, Economic Times reported.
Along with the aggressive expansion drive, the retail chain is also eyeing a humongous turnover of about Rs. 7 billion by the end of next fiscal in 2014, Mr. Agarwal said.
In order to implement its rapid expansion plans, the company will invest nearly Rs. 500 million for increasing operations in smaller cities of India.
In addition to its future projects, the retailer plans to employ over 1,000 people in the year 2014.
Acquired by Apple Group Of Companies and VEMB Lifestyle in 2011, Promart currently owns more than 32 outlets all over India.
The firm offers clothing from several international brands like Adidas, Arrow, Lee Cooper, Lotto, Provogue, Pepe, Puma, Spykar and Wills Classic.
Fibre2fashion News Desk - India
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