Numero Uno to invest 10 crore on store expansion in India
Numero Uno, Indian apparel brand has earmarked an investment of Rs 10 crore on its expansion across the country with an aim to boost its revenue by 15 to 20 percent in the next fiscal.
The company over the next three years will open around 35 to 40 stores across the country with an investment of Rs 25 to 30 lakhs.
Numero Uno will shift its focus to the Southern and Western regions of India for growth after capturing a large chunk of the market in northern India where it already has a stronghold with over 180 stores.
Numero Uno products range from shoes, watches, casual shirts and is famous for its Denims. The company recently expanded its product portfolio by entering the booming athleisure market in India with the launch of its N1Active collection.
Apart from expansion of its outlets the company is also focusing on increasing its offerings in order to meet its projected revenue growth target of 20 percent.
"We would be opening 12 stores per year for the next three years, mostly in South and West India considering less presence in those regions compared to north India," Numero Uno Clothing Ltd CMD Narinder Singh Dhingra told news agency PTI.
"The company is looking at a 15-20 percent revenue growth, taking into account the planned expansion.
For an average size store of 600 square feet, the investment comes to between Rs 25-35 lakhs, which is what we are planning to do,” Dhingra added.
Numero Uno has 215 EBOs and over 600 MBOs in the country. The brand plans to foray into the international markets and currently looking for licensing agreements for foreign markets starting with the Middle East.
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