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United Retail to invest Rs500 mn for retail expansion
19 Dec '08
1 min read
United Retail Pvt Ltd, the Delhi based brand is now entering into apparel retail segment with an investment of Rs500 million for setting up nearly 80 stores for its kids wear brand Urban 10.
According to sources, the Company, that earns an annual turnover of Rs1000 million from its kids wear export, is currently eying a peofit of Rs7 to Rs8 million from each retail outlets, which the Company is planning to expand over five years.
United Retail started their domestic kidswear business by launching Urban 10 brand in January this year, and plans to set up the first retail outlet by January 2009.
The Company is in discussion with some major retail players, like Lifestyle and Shopper's Stop, for selling its kids wear.
Available statistics show that in India, the kids wear market for children with in the range of 1-14 years age group is nearly Rs120 billion and mere 8 percent of it is organised.
United Retail intends to be among the top by 2011.
According to sources, the Company, that earns an annual turnover of Rs1000 million from its kids wear export, is currently eying a peofit of Rs7 to Rs8 million from each retail outlets, which the Company is planning to expand over five years.
United Retail started their domestic kidswear business by launching Urban 10 brand in January this year, and plans to set up the first retail outlet by January 2009.
The Company is in discussion with some major retail players, like Lifestyle and Shopper's Stop, for selling its kids wear.
Available statistics show that in India, the kids wear market for children with in the range of 1-14 years age group is nearly Rs120 billion and mere 8 percent of it is organised.
United Retail intends to be among the top by 2011.
Fibre2fashion News Desk - India
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