Aditya Birla to open 10 stores in three years for The Collective
Aditya Birla plans to double its store count for its multi-brand luxury fashion retail chain The Collective and open 10 more stores in the coming three years with an investment of around Rs 60 crore ($9 million).
The Collective plans to expand both its brick-and-mortar retail presence and its brand portfolio in the coming three years, ET Bureau reported. “We want to double our footprint and our mono-brand portfolio will also see growth,” The Collective’s brand head Amit Pande told ET Bureau.
Pande said that mono-brand stores require less investment to open at around Rs 2 to 3 crore per store. Multi-brand stores cost between Rs 5 and Rs 6 crore to set up. The Collective has already signed licenses in Pune, Lucknow, and Delhi NCR to open stores.
“We also see a huge opportunity in mini metros,” said Pande. “There are other companies who have acquired quite a few brands but way too early without understanding what the market is and India is a competitive market.”
The Collective, part of the Aditya Birla Group, retails over 80 luxury fashion brands including Versace, Polo Ralph Lauren, DSquared2, and Kenzo among others. The Collective also runs exclusive brand outlets for a number of its brands. The Collective also plans to open its first Fred Perry store this month and bring the brand Hugo by Hugo Boss to India.
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