 Madura Garments, a division of the Aditya Birla group and owners of well know apparel brands like Van Heusen, Allen Solly and Peter England is contemplating opening 72 more stores across the length and breadth of the country.
This was revealed by the COO of Madura Garments, Mr Shital Mehta, while unveiling the latest store in Chennai and added by saying that the strategy was to an open large number of stores with the minimum of investment to face the economic crisis.
“The proposed 72 outlets would be opened within a period of three years and investment for each store would depend on the size of the outlet and 40 percent of the stores would be franchisee owned stores and the rest company owned”, he explained.
The company also plans to increase its product offerings by venturing in to other segments like watches, shoes and innerwear. In the last fiscal, Madura Garments clocked revenues of Rs 3.25 billion and expects to grow by 15 percent in the current year.
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