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Prateek Apparels to open 50 oulets of 'Coupon'
05
Sep '08
Prateek Lifestyle, the retail arm of Bangalore based apparel manufacturer - Prateek Apparels, has plans to invest Rs4,000 million for expanding its diverse retail formats over the next four years.

Pradeep Agarwal, Managing Director of Prateek Apparels, told reporters that the company was relatively new to the sphere of value retail and has recently opened its third 'Coupon' discounted outlet in Hyderabad on September 4. Moreover, it also has plans to open 50 such discounted outlets across the country by 2012. He also shared details on the issue saying that the first Coupon store was launched in Bangalore in June 2007 followed by another in Raipur.

Mr Agarwal further asserted that the company had already signed up six properties across the country and has plans to acquire 12 more by March 2009. He also divulged that two more stores, one each in Faridabad and Kozhikode will be inaugurated in the next 10 days.

A major chunk of the company's investment would flow into its value-for-money Coupon format and the rest to its European kidswear brand – Kanz. As of now, Pateek Apparels has about 140 Kanz stores and store count is expected to reach 350 by 2012.

The Managing Director, Pradeep Agarwal was confident when he stated that “post expansion, the company will have a retail space of three million square feet and that it garnered revenues amounting to Rs2,490 million last year."

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