.Garments company Cantabil, which functions 550 shops in 250 cities of the country, is organizing to pass through deeper right into tier II and beyond by opening up 85 brand new stores this fiscal, Deepak Bansal, director, Cantabil said to ETRetail.The brand is actually additionally focussing on broadening its retail store measurements from 1,250 sq.ft to 1,600 sq.ft as larger retail stores are yielding much better returns." This financial year, we are actually intending to commit Rs 20 crore to assist the growth strategies and also out of the 85 retail stores that our team are preparing to open up, twenty percent will certainly be actually by means of franchise business route and the remaining 80 per cent retail stores are going to be actually company-owned as well as company-operated," he explained.At current, 15 per-cent of the outlets of the company remain in the shopping centers and also the remaining 85 percent get on the higher streets, and the company organizes to go forward with the same proportion later on as well." twenty percent of our outlets are in metro and also tier I urban areas, 40 per cent in rate II metropolitan areas, and also the continuing to be 40 per-cent in tier III and beyond," he added.Last monetary, the label forayed right into new categories like activewear as well as footwear. These brand-new classifications contributed Rs 2.6 crore towards the FY 24 earnings and also this monetary, the company is actually expecting the type to grow more as well as contribute Rs 10 crore." In FY 23-24, our experts opened 5 special shops for activewear as well as shoes and added this as a brand-new category to 60 of our existing family members outlets, as well as this fiscal year, our experts are actually preparing to include these types to 30 even more household shops and also won't be opening exclusive shops," he claimed." Aside from this, nowadays, our company have forty five exclusive outlets focussing on women and also kids as well as this fiscal, we are aiming to add 15 additional retail stores," he additionally added.In the previous budgetary, accessories resulted in 5 per cent of the general sales, as well as this budgetary, the brand is considering to take its own addition to 6 per cent. The brand name, which signed up 5 per-cent sales coming from online channels last financial, is planning to enhance it to 7.5 per cent this financial." Our offline standard ticket measurements remains at Rs 4,600 along with average selling price of Rs 1,100," he stated.The brand, which was actually targeting to shut last monetary with Rs 675 crore earnings ended up shutting it at Rs 620 crore, and also this economic, it is trying for Rs 750 crore income.
Posted On Aug 29, 2024 at 01:27 PM IST.
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