Megamart, the large-format retail chain of Arvind Brands, is widening its products portfolio by adding footwear, watches, lifestyle electronics and luggage.
“We are planning to start a shop- in- shop format by March, and are in talks with leading brands in respective categories, including Mobile Next, VIP, American Tourister, M&B, Reebok, Nike and Timex. We are also considering cosmetics and perfumes,” KR Venkatchalapathy, business head, Megamart, told Indiaretailing.
Sharing details about the products, Venkatchalapathy informed, “Our non-apparel products will be value driven and not sell on discounts. However, we might introduce some promotional schemes.”
Megamart will house 30 per cent of non-apparel products whereas the share of apparel brands will be 70 per cent. “In the apparel segment, we will have products from brands including Raymond’s, Levi’s, Arrow, Flying Machine, Excalibur, Ruggers, Elitus, Auburn Hill, Mystic Dew, Yash, Iris and Colt,” Venkatchalapathy added.
Initialy, the Megamart stores in Chennai and Hyderabad will have these added categories, which will soon be on offer at other Megamarts in the country.
According to Venkatchalapathy, Megamart is expecting a turnover of about Rs 2,000 crore in the next five years.
– Satrajit Sen