Easybuy to total over 200 stores by 2022
The value fashion retailer Easybuy plans to reach a total of 200 stores by 2022 with a turnover of around Rs 1,000 crore ($150 million) up from its current total of over 75 stores and turnover of Rs 330 crore.
Easybuy, a company of the Landmark Group, hopes to become “the most preferred value fashion destination for the aspirational ‘Navbharat’ families who are seeking ‘super styles at super prices’,” the brand’s SVP and business head Anand Aiyer told IndiaRetailing.
In order to achieve this, the brand will expand to reach a network of 200 stores within the next four years.
“We will successfully close this year with a turnover of over Rs 330 crore+ with over 75+ stores and by 2022, we aim to achieve Rs 1000+ crore turnover with over 200+ stores,” said Aiyer.
The brand, launched in 2015, will open franchise stores to reach the maximum number of customers.
Easybuy also aims to eventually open a store each of India’s district headquarters of which there are over 500. Aiyer sees a franchise model as a way to ensure that stores are opened with ample knowledge of the local area.
“We are building an FMCG model in fashion, where scale is critical for profitability and hence we need to expand faster,” said Aiyer.
“For faster expansion and local understanding, franchising is the best model, and so we chose the franchisee route. Today, we are one of the fastest growing businesses in India.”
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