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Published
Mar 23, 2017
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Hidesign to invest 20 crores on expansion, technology

Published
Mar 23, 2017

Indian premium leather brand Hidesign will be investing 20 crores on its expansion across the country and technology in R&D this year, said a top executive of the company.


Hidesign to invest 20 crores on expansion, technology - Hidesign


"We are investing heavily into R&D, technology and opening new stores. We would be investing a minimum of Rs 20 crore within this year," said Dilip Kapur, founder and president of Hidesign told the Economic Times.

Hidesign is looking to double its store counts at the airport and will invest a major amount in the same.

The brand currently has around 8 outlets at the airport and will be looking to double that number in the next four months.

"I think Hidesign has become a core product in all the private airports. All private airports are offering us stores. We currently have 8 stores at airports and are planning to open 9 more stores at the airports in the next 4 months. We will more than double our presence at the airport," said Kapur.

According to Kapur, a typical 400-550 sqft outlet at airport entails an investment around Rs 1.2 crore but also gives the company higher sales.

The brand also plans to open outlets at international airports which are heavily used by Indians in transit.

"We may open at airports which see a lot of Indian transit traffic. We are looking at Gulf where we have been invited for a couple of airports. We are also assessing couple of airports in Europe, Nairobi and Colombo to open our outlets. As we gain expertise in airport retailing we will look to expand our business to international airports,” Kapur added.
 
Hidesign aims to triple revenues by 2021 by expanding network especially outside India. The company had reported revenue of Rs 100 crore and a profit of Rs 2.4 crore in FY16.
 

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