Home / Knowledge / News / Ranka Group's retail branded foray through PennyWise outlets
Ranka Group's retail branded foray through PennyWise outlets
03
Oct '05
Bangalore-based leading property developer Ranka Group to roll out a chain of multi brand budget outlets at Hosur, Marathahalli Bangalore, October 3, 2005: Taking a deep dive into the retail wave that India is currently witnessing, the Ranka Group with interests in steel processing has announced its formal foray into retail. Branded “Pennywise”, the foray would entail setting up of branded budget outlets across the country over a period.

The first outlet spread over 5000 sft, is already functional on Hosur Road, the in place for such outlets, besides the other one in Marathahalli in Bangalore. “PennyWise” will stock and display multiple brands and its outlets are designed to evoke the feel and ambience of an upmarket retail chain.

For instance, each outlet will have a comfortable well-lit welcoming ambience, trained staff to render impeccable service besides the shop in shop concept for individual brands.

Another unique aspect of PennyWise would be that it would allow for exchange of unsatisfactory products, which is not a common practice among factory outlets. The outlet on Hosur road currently stocks Levis, Adidas, Indigo Nation, Dockers, United Colors of Benetton, Pepe, Scullers and Nike among other brands. The overall investment in the outlet and in the venture so far is Rs.20 million, which would be scaled up in line with the expansion of outlets in a phased manner.

According to Ashok Ranka, Director-Marketing, PennyWise is about moving multiple notches up from having a go down providing goods at discount to providing value and an upbeat shopping experience that a customer is familiar with, of an upmarket retail outlet. It is about differentiating in an increasingly cluttered and competitive marketplace and being able to lure quality consumers into the outlets.

Karnataka, India based Ranka Group is a diversified conglomerate with interests in steel processing among other businesses. The group recently won the Best service center award from Tata Steel and has recently set up an Rs.8 crores facility for steel processing at white filed, Bangalore.

Ranka Group

Must ReadView All

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Textiles | On 8th Dec 2016

Taiwan’s Everest Textile to invest $18.5 mn in US

Everest Textiles USA, a unit of Taiwan based Everest Textile Company, ...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search