Easybuy aims for 100 stores, 600 crore sales by 2020
Easybuy, the new apparel value retail format from Landmark Group, is targeting 100 stores across the country and expects a turnover of Rs 600 crore by 2020 , a top company official said.
The company already has 20 stores in South India and plans to reach 50 stores by this fiscal, Easybuy Business Head Anand Aiyer told a news agency on the sidelines of launch of its first store in Coimbatore, the fourth in Tamil Nadu.
He said Easybuy planned to touch 100 stores across the country by 2020. Started two years ago, the company had a business turnover of Rs131 crore and expected to reach Rs.600 crore by 2020, Aiyer said.
"Fashion is becoming more commoditised. Value buying is the fastest growing retail format now," said Aiyer. "Fashion and retail brands are concentrated in the metros. Tier-2 and tier-3 markets, which are being dominated by regional brands now, have huge potential," he added.
The company was growing at 30 to 40 per cent per annum, he said adding it was expanding mainly through franchisee model.
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