Kewal Kiran aims to reach 500 stores by 2023
today Jun 28, 2019
Leading branded apparel maker Kewal Kiran Clothing Ltd is looking to strengthen its retail presence in the Indian market with the addition of 500 small format stores over the next five years.
The stores will be in the range of 2,000-4,000 sq ft and house its menswear brands like Killer, Integriti, LawmanPg3, Easies along with the newly launched womenswear brand, Desi Belle.
For the financial year 2018-19, Kewal Kiran had delivered strong results with a revenue jump of 9 percent to Rs 524 crore ($75.8 million) coupled with 10 percent increase in profit to Rs 80 crore as against the last fiscal.
Commenting on the expansion plan, chief financial officer at Kewal Kiran, Bhavin Sheth, in a statement said, “Our strategy to expand medium size formats would give us good traction in our sales. As our strategy was always long-term and have been working with our franchise owners for more than three decades, we are confident that this will pay off well to increase our revenues in the next couple of years.
“This necessitates medium size store formats for better display and pleasant experience for shoppers as in smaller towns and cities the shopping culture varies as compared to urban shoppers and their shopping behaviour."
The Mumbai-based apparel maker currently has 336 retail stores 210 cities across 25 states and also sells on leading e-commerce platforms in India.
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