Span Apparels to expand retail footprint, set up warehouse
Women's ethnic wear brand Span Apparels is planning to expand its presence across the country and earmarked an investment of Rs 100 crore (approx $15.6 million) for the same.
The brand will be opening stores in the southern and eastern states of the country and will also set up a Rs 20 crore (approx $3.2 million) warehouse in Gujarat to boost its supply chain. The warehouse will be set up in Pipalaj in Ahmedabad city which will be operational from next year.
"The GST has brought the ease of setting up retail outlets in the other states. Earlier it required complex taxation and documentation. But GST has online systems to get registered and expand businesses in other parts of the country. We plan to increase our presence from currently 25 exclusive outlets to 100 by 2020,” Tapan Khandhar, Director, Span Apparels told the Businessline.
"The investment will by mostly funded through internal accruals, promoter funds and debt. We are also open to strategic investors like venture capital and private equity," said Naman Khandhar, director of the company.
Span is one of the fastest growing lifestyle brand engaged in manufacturing, retailing & exporting of women’s ethnic wear in India. It has more than 1500 point of sale and more than 170 MBO’s & EBO’s in over 150 cities and towns across India.
Span is present at all the flagship stores of Lifestyle, Central, Reliance & Ethnicity. The brand is also available on leading ecommerce Indian websites like Myntra, Jabong, Flipkart and many other e-com shopping portals.
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