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Ritu Wears mulls expanding store count

Jan '10
Ritu Wears – a lifestyle fashion brand based in Delhi is out to invest about Rs. 230 crores towards expansion pan-India over a span of four years and is planning to penetrate markets beyond North India like Indore, Jaipur and Bhopal.

Managing Director of the Company Mr. Sanjay Sahani informed the press that, the Company aims at opening 33 stores across India by 2013. He also informed that each outlet will entail an investment of around Rs 7 crores totaling approximately to Rs. 230 crores which is to flow from company's internal accrual and debt. "Last fiscal, we clocked Rs 116 crore as turnover and this year we are on way to cross the Rs 170 crore”, he added.

Company officials informed that the company at present has 10 huge outlets covering an area of 30,000 sq. ft. displaying products like apparel, footwear and home categories. It was added that the company is moving aggressively with the home collection and will also concentrate more on the toys and books section in its outlets. This will be facilitated through 2-3 times more allocation of space for these products which currently is around 1,000 sq. ft.

Mr. Sahani said that they look forward at maintaining the balance between their private labels and other brands like Van Heusen and Color Plus that are sold in Ritu Wear outlets while at the same time also display the collections of major foreign and domestic brands. The discussions with brands like Tommy Hilfiger and Esprit are on to convince them to set up shop in these outlets, he added. He was positive about opening such shop-in-shops, by the next season.

Fibre2fashion News Desk - India

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