– Triumph to launch Hom and Valisere brands
Triumph has planned to introduce its high-end labels – Hom and Valisere – by end of this year, in India.
Speaking to Indiaretailing, Thorsten Allenstein, country head, Triumph, said, “The demand for our products in India has been growing, hence we are planning to launch two of our high-end brands in the country very soon.”
Sharing plans about the expansion of Triumph stores in India, Allenstein said, “We have planned to open around 100 Triumph stores by next year.” The company has already identified locations, and each store will be spread across 800 to 1,000 square feet.
Besides, the company is planning to partner other multi-brand retailers and is in talks with many companies. “We have spoken to many retailers to stock our products and are going to finalise our partner by end of this week,” informed Allenstein.
– Around 70 new outlets from Vishal; loyalty card for women
Vishal Retail said it would open 70 more stores at a cost of around Rs 700 crore by the end of this year, taking the total number to 190, while playing down the chances of high inflation dampening its expansion plans.
“Inflation has made no impact on our growth plan. We are going to open 70 more stores by the end of the current year, and will invest Rs 700 crore for the purpose,” Vishal Retail Chairman Ram Chandra Agarwal told reporters on the sidelines of Pure and Play.
The company is also looking to raise Rs 200 crore through a private equity investment for the expansion plans, while the remaining fund will be arranged through debt. “In order to fund our expansion plans, we are looking at a debt equity ratio of 2:1,” Agarwal said. Vishal Retail is also planning to launch loyalty cards to attract customers, particularly women, besides introducing new brands in the womenswear category.
– Niknish to add 50 stores
Kolkata-based Niknish Retail plans to increase the number of its outlets to 65, from the present 15.
“In the next 18 months we plan to increase the number of stores to 65,” Niknish Retail Vice-President Thomas Yasuda said on the sidelines of Pure and Play.
The company will operate through two major formats: the large ones, with an area of 10,000 square feet and above, and the smaller ones with an area of around 2,000 square feet.
– Proposed Rs 350 crore investment from Globus
Globus will invest Rs 350 crore for opening 74 new stores in the next 30 months, across India.
“Seeing the growth in the organised retail industry, we have planned to increase the number of outlets to 100 from the current 26 stores, in the next two-and-a-half years. This can entail an investment up to Rs 350 crore,” Globus President Subhash Chhabra said on the sidelines of Pure and Play.
The entire investment will be funded through internal accruals, he added. To start with, Chhabra said, the company will add 15 stores in the current fiscal in tier I and II cities, including Nagpur, Kochi, Rajkot and Surat. All stores will be company-managed and open in shopping malls.