Home / Knowledge / News / Apparel/Garments / Discount retailer Promart eyes Rs 4.5bn turnover by 2013

Discount retailer Promart eyes Rs 4.5bn turnover by 2013

22
Jun '12
Mr. Punit Agarwal
Promart Retail India, a discount retail chain and value format concept providing discounts to consumers 365 days in a year, has set a sales target of Rs. 4.5 billion for next year and is currently in the process of increasing its store network across India through the franchisee route.
 
Speaking to fibre2fashion, Mr. Punit Agarwal, CEO of Promart, said, “Promart’s vision is to take fashion to cities where it is not accessible. We want to be accessible and available to people living in smaller cities, especially the Tier II- Tier VI markets, and bring in a new dimension to fashion, focusing on the latest fashion trends.”
 
“We plan to increase our store count in Tier II to Tier VI cities by expanding through the franchisee model. As of now, we have already signed 50 franchisees across India, including in key states like Maharashtra, Himachal, Punjab, Jammu and Kashmir, Haryana and Rajasthan,” he reveals.
 
“We plan to open franchisee-operated Promart outlets pan India and have received expressions of interest from 200 franchisees to open stores,” he adds.
 
Promart does not follow a revenue sharing model for its franchisees, but ensures healthy return on investments and attractive margins, apart from offering a percentage of discounts to its end customers.
 
Apprising about the company’s growth targets, Mr. Agarwal says, “We are expecting a healthy growth rate of 33 percent from the franchisee strategy. We are expecting a turnover of Rs. 2 billion only from the franchisee model and an overall turnover of Rs. 4.5 billion through company-owned and franchised outlets by 2013.”
 
Promart currently has seven company owned stores in Ahmedabad, two in Vadodara, Rajkot, Vapi and Aurangabad and one store-in-store (SIS) in Mumbai. The company is also planning to soon open nine more outlets.
 
Promart stores offer apparel products of anchor brands like Levis, Pepe, Wrangler, Spykar, Arrow, Lee, Gini & Jony, Black Panther, J. Hampstead, 109°F, Sepia, Mufti, Puma and many more under one roof.
 
The stores also sell some in-house brands. “Tramorp is a line of formal wear shirts and trousers for men. Profussion is a collection of Indo-Western outfits and ensembles for the modern women. Protees is a range of casual wear for the fashion-conscious men and women,” informs Mr. Agarwal. 
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 18th Feb 2020

Turkey, Pak want to raise bilateral trade volume to $5 bn

Turkey and Pakistan want to raise bilateral commercial and economic...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

Bangladesh RMG exporters expect order shift from Cambodia

Bangladesh's readymade garment (RMG) exporters feel the suspension of ...

Pic: Shutterstock

Apparel/Garments | On 18th Feb 2020

GMAC dissatisfied with EU following partial EBA suspension

Expressing disappointment over the February 12 decision by the...

Interviews View All

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

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

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

Leave your Comments


February 2020

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


Advanced Search