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SKNL unit, Brandhouse Retail plans to treble revenues by 2010
30 Sep '08
2 min read
Recently, Brandhouse Retails, retail unit of S Kumars Nationwide (SKNL), announced its plans to target earnings of Rs18 billion from its private label trade.
Mr Tarun Joshi, Managing Director of Brandhouse Retails confirmed to Fibre2fashion that they were indeed planning to open 180 private label stores in next five years.
Brandhouse manages exclusive stores of four SKNL brands including Reid & Taylor, Stephens Brothers, Belmonte, and Carmichael House. Company, which already has 600 outlets, is looking to establish its first private label store early next year and the average size of the store will range from 8,000 to 10,000 square feet.
Mr Joshi said, "We are exploring options on whether to bring out private label stores ourselves or partner with any foreign player. We will sell high and fast fashion at affordable prices. It is like Zara at Indian prices."
Enterprise is determined to take the number of its stores to 850 by the end of this financial year and then raise it 1200 by 2010.
"Matured stores will bring in more revenues for us. We have taken the total number of stores from 64 to 398 in a year, taking our revenues from Rs0.5 billion to Rs3.14 billion. The 64 stores have achieved super maturity and new stores opened in the second half of 2008 will also get more sales," Mr Joshi said.
Brandhouse will also retail two brands that will be launched by SKNL soon. Meanwhile, Company plans to treble its revenues from Rs3.14 billion in 2008 to Rs10.7 billion by the end of 2010.
Mr Tarun Joshi, Managing Director of Brandhouse Retails confirmed to Fibre2fashion that they were indeed planning to open 180 private label stores in next five years.
Brandhouse manages exclusive stores of four SKNL brands including Reid & Taylor, Stephens Brothers, Belmonte, and Carmichael House. Company, which already has 600 outlets, is looking to establish its first private label store early next year and the average size of the store will range from 8,000 to 10,000 square feet.
Mr Joshi said, "We are exploring options on whether to bring out private label stores ourselves or partner with any foreign player. We will sell high and fast fashion at affordable prices. It is like Zara at Indian prices."
Enterprise is determined to take the number of its stores to 850 by the end of this financial year and then raise it 1200 by 2010.
"Matured stores will bring in more revenues for us. We have taken the total number of stores from 64 to 398 in a year, taking our revenues from Rs0.5 billion to Rs3.14 billion. The 64 stores have achieved super maturity and new stores opened in the second half of 2008 will also get more sales," Mr Joshi said.
Brandhouse will also retail two brands that will be launched by SKNL soon. Meanwhile, Company plans to treble its revenues from Rs3.14 billion in 2008 to Rs10.7 billion by the end of 2010.
Fibre2fashion News Desk - India
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