Cantabil to invest Rs 25 crore on retail expansion in 2020

By

Maverick Martins

Published
Dec 16, 2019

Apparel brand Cantabil Retail India plans to strengthen its retail network across India next year and has earmarked an investment of Rs 25 crore ($3.6 million) for its expansion.
 

The company will focus on tier 2 and tier 3 cities and open around 110 stores in 2020 as it looks to reach a store count of 400.
 
Cantabil also expects a jump in revenue on the back of its massive retail expansion and eyeing revenue of around Rs 400 crore for the next financial year. It had reported sales of Rs 290 crore in the financial year 2018-19.

“2019 has been a positive year and we are hopeful to continue with the same growth momentum in the coming year. There is a significant increase in awareness about the fashion trend among the people in smaller towns and cities. We see immense potential in tier II and III markets for expansion,” Deepak Bansal, director at Cantabil, told IANS.
 
 “Our target states are Maharashtra, Gujarat, Rajasthan, UP, Madhya Pradesh, Bihar, Jharkhand, West Bengal and part of Northeast,” he added.
 
Cantabil Retail India Ltd is a New Delhi based apparel manufacturer and retail discount outlet. It currently has 29 stores in 16 states across India.