Home / Knowledge / News / Fashion / Ritu Wears mulls expanding store count

Ritu Wears mulls expanding store count

20
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


Must ReadView All

US President Joe Biden. Pic: Shutterstock

Textiles | On 29th Jul 2021

Proposed amendments to raise US content in federal purchases announced

The United States has decided to raise US-made content in government...

Pic: Shutterstock

Apparel/Garments | On 29th Jul 2021

Uninterrupted supply chain crucial for Vietnam amid ongoing COVID wave

Ensuring that the supply chain of Vietnam is not interrupted amid the ...

Pic: Moschino

Fashion | On 29th Jul 2021

Italy’s Aeffe buys remaining 30% stake in Moschino for full ownership

Italian luxury fashion company Aeffe has acquired fashion house...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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


July 2021

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


Advanced Search