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Alok industries plans mammoth expansion of its retail network
26
Jun '08
Alok Industries is planning to make its presence all the more prominent in the domestic market by making huge investment of nearly Rs 400 million in 2009. The unit aims to expand retail chain network as it wants to lessen its reliance on US market which is witnessing recession at present.

In an exclusive interview with Fibre2fashion, Mr Sunil Khandelwal, Chief Financial Officer (CFO), Alok Industries stated, “We are looking at the expansion of retail network in India under the brand 'H&A' as a strategy to penetrate in the local market. These stores are targeted towards mass market which is the fastest growing segment.

“They will be complete family stores that would house garments for kids, teenagers, men and women. The retail chain will be opened on leased premises on pan-India basis. It would be combination of both Franchisee model as well as company managed stores.

“These outlets will sell home textiles products including bed sheets. The retail expansion in the domestic market is not directly connected with US. As far as export market is concerned, US makes a contribution of 35 to 40 percent from the total overseas earnings.”

While giving detailed information about H&A stores Mr Sunil asserted, “We propose to increase our number of stores to about 125 by March 2009 from present 24. With estimated investment of about Rs 400 million towards this and the same would be met out of our internal accruals and debt.”

The CFO further divulged,” The Group also has a chain of stores aggregating to 205 in UK which operates under brands 'Store 21' and 'qs'. These stores are value proposition and sell garments, home textiles, home ware and accessories like shoes, bags and jewellery. The number will further increase during this year through arrangement with other supermarkets. Besides this we are not looking at any other market for the time being.”

Alok industries is also looking at the options of exploring other lucrative markets of Europe, Latin America and Middle East in near future.

Fibre2fashion News Desk - India

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