Major Brands plans Rs 260 crore retail expansion
Major Brands (India), which owns the licenses to sell several international lifestyle brands in India, has planned massive expansion for all its brands over the next four years.
The company has earmarked an investment of Rs 260 crore ($37.3 million) on retail expansion for all its international brands across India and also plans to set up a warehouse in South India.
Major Brands will open stores mostly in malls in major cities and also has plans to open exclusive brand outlets in tier 2 cities.
"We plan to invest about Rs 260 crore over the next four years in expanding our retail outlets and also setting up a warehouse in South India. We want to double our retail network in four years’ time. We prefer to have our outlets in malls where zoning is done properly. In the case of an existing mall, one can get numbers like footfalls, market size for the international brands," Major Brands (India) president Tushar Ved was quoted as saying by IANS.
"Currently, we have 160 standalone outlets for different brands. In addition we are also present in several big retail outlets under shop-in-shop model," he added.
Major Brands is India’s leading retailer for premier international fashion apparel, accessories and beauty brands. It currently has a total of 180 stores across India for its numerous fashion and beauty brands like Aldo, Aldo Accessories, Charles & Keith, Inglot, Lasenza, Beverly Hills Polo Club, Call it Spring, New Balance and Bath and Body Works.
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