Home / Knowledge / News / News Detail
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

Apparel/Garments | On 2nd May 2016

WB: B’desh can create more jobs with apparel exports

Clothing exports could create more and better jobs in Bangladesh if...

Courtesy: Skechers USA Inc

Apparel/Garments | On 2nd May 2016

Govt okays single brand retail for Skechers

Footwear maker Skechers USA Inc. has secured the government's...

Apparel/Garments | On 2nd May 2016

Amazon to invest more in India

Global e-commerce major Amazon plans to boost investment in its...

Interviews View All

Humayun Kabir Salim
Dird Composite Textile Ltd

The importance of textile industry in the economy of Bangladesh is very...

Avihay Feld
Browzwear Solutions

What are the new 3D technologies available in the market for apparel...

Mr. Paolo Gramaglia
Miroglio Textile

What is the role of the digital printing technology in the manufacturing...

Mr. Keith Hayward
Monadnock Nonwovens LLC

Born in England, an honors graduate in Chemistry at the University of York ...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Dr. Andreas Schmidt
Department Function and Care, The Hohenstein Institute

Dr. Andreas Schmidt is Director of Department Function and Care, The...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search