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The Loot to hike retail footprint with 40 more outlets
13 Jun '11
2 min read
The Loot, a year-round discount clothing retailer with a network across India, now plans to open 40 more outlets, which will take its store count to 200. The Jay Gupta-led retailer chain offers discounts from a minimum of 25 percent up to 60 per cent, other than its various offers.
The Loot store has on its shelves national and global garment brands like, Lee Copper, Red Tape, Wrangler, John Players, Indian Terrain, Puma, Lee and many others. The Hindustan Times selected it as one amongst the 12 'Small ideas big changes' series and The Franchising World picked it up for the 'Top 50 business opportunities in India', both in 2008.
Mr Jay Gupta, MD - The Loot India Pvt. Ltd. told fibre2fashion, “We currently have over 160 stores in Tier I & Tier II cities and are looking forward to open around 40 more stores via franchisee model by July 2011, thereby reaching 200 stores which is our set target,”.
When asked about investment details, he said, “The investment varies depending on the location and the area of the store. Basically the investment required is between Rs 2.5-7.5 million. Our vision behind expanding at such a speed is to be the 'next door most loved global discount retailer'.”
“We also have an ecommerce platform. Ebay, Rediff, Naptol, Ibibo, etc are our partners for online selling”, he added by saying.
Speaking about their customer base, he informed, “Our target audience is the young professionals and college goers who feel the need to wear the aspirational brands at competitive prices. For them, 'The Loot' is a one-stop-shop to get branded garments at a discount all year round”.
The Loot store has on its shelves national and global garment brands like, Lee Copper, Red Tape, Wrangler, John Players, Indian Terrain, Puma, Lee and many others. The Hindustan Times selected it as one amongst the 12 'Small ideas big changes' series and The Franchising World picked it up for the 'Top 50 business opportunities in India', both in 2008.
Mr Jay Gupta, MD - The Loot India Pvt. Ltd. told fibre2fashion, “We currently have over 160 stores in Tier I & Tier II cities and are looking forward to open around 40 more stores via franchisee model by July 2011, thereby reaching 200 stores which is our set target,”.
When asked about investment details, he said, “The investment varies depending on the location and the area of the store. Basically the investment required is between Rs 2.5-7.5 million. Our vision behind expanding at such a speed is to be the 'next door most loved global discount retailer'.”
“We also have an ecommerce platform. Ebay, Rediff, Naptol, Ibibo, etc are our partners for online selling”, he added by saying.
Speaking about their customer base, he informed, “Our target audience is the young professionals and college goers who feel the need to wear the aspirational brands at competitive prices. For them, 'The Loot' is a one-stop-shop to get branded garments at a discount all year round”.
Fibre2fashion News Desk - India
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