.Apparel brand name Cantabil, which functions 550 stores in 250 towns of the country, is actually intending to penetrate much deeper in to tier II and beyond through opening up 85 new stores this budgetary, Deepak Bansal, director, Cantabil said to ETRetail.The brand is actually likewise paying attention to growing its retail store size from 1,250 sq.ft to 1,600 sq.ft as bigger retail stores are actually generating much better returns." This fiscal year, we are preparing to commit Rs 20 crore to help the expansion programs and also away from the 85 outlets that we are considering to open up, twenty percent is going to be actually through franchise route and the continuing to be 80 percent stores will certainly be actually company-owned and also company-operated," he explained.At present, 15 percent of the shops of the brand name remain in the shopping malls and also the staying 85 per cent get on the high streets, as well as the label intends to go ahead along with the exact same ratio in the future too." 20 per cent of our outlets remain in city and also rate I urban areas, 40 per cent in rate II areas, and the staying 40 percent in tier III and beyond," he added.Last monetary, the company forayed right into new categories like activewear and shoes. These brand-new classifications contributed Rs 2.6 crore towards the FY 24 income as well as this monetary, the company is actually assuming the group to develop additional as well as assist Rs 10 crore." In FY 23-24, our experts opened up 5 unique shops for activewear as well as shoes and also incorporated this as a brand new category to 60 of our existing loved ones stores, as well as this fiscal year, our experts are considering to incorporate these groups to 30 additional family members shops and will not be opening unique stores," he asserted." Besides this, today, our company have 45 special stores concentrating on women and youngsters and this financial, our team are actually targeting to include 15 additional outlets," he even more added.In the previous fiscal, devices brought about 5 per-cent of the general sales, and also this budgetary, the brand name is actually checking out to take its payment to 6 percent. The company, which registered 5 per-cent sales coming from online stations final budgetary, is actually preparing to increase it to 7.5 per cent this fiscal." Our offline standard ticket size endures at Rs 4,600 along with typical selling price of Rs 1,100," he stated.The brand, which was actually targeting to close final economic along with Rs 675 crore profits wound up shutting it at Rs 620 crore, and also this budgetary, it is actually aiming for Rs 750 crore revenue.
Released On Aug 29, 2024 at 01:27 PM IST.
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