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 26th Sep 2016

Hank yarn delivery lead times to handloom sector high: Study

A study has concluded that hank yarn delivered by the National...

Textiles | On 24th Sep 2016

GST Council sets exemption limit at Rs 20 lakh

The GST Council has decided to exempt businesses from the Goods and...

Apparel/Garments | On 24th Sep 2016

DGFT adds new service providers in EPCG scheme

Providing great relief to the job working units in garment clusters...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Asim Dalal
Indo Count Retail Ventures

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search