Home Retail Priknit Retails sells stake to BCCL; targets 1000 stores by 2010

    Priknit Retails sells stake to BCCL; targets 1000 stores by 2010

    By  
    SHARE

    Ludhiana-based apparel retailer has entered into a partnership deal with (). The new deal allowed to acquire a percentage of stake Priknit Retails.

    , chairman and managing director, Priknit Retails, said, “Priknit, being a fashion brand that focuses on youth, will be able to connect better with its customers through this alliance with BCCL.”

    The company is engaged in manufacturing and retailing of apparels for men and women in formal and casual wear category and operates 300 stores across 160 cities in India. The company is also planning to open 1,000 stores by 2010 and to strengthen its presence in the west and south Indian markets.

    Meanwhile, the company had posted a turnover of Rs 1.62 billion in fiscal 2007-08 and hopes to double the figure to reach around Rs 3 billion by fiscal-end 2008-09.

    — IndiaRetailing Bureau