Gurgaon-based women’s wear retailer Femella Fashions, a wholly owned subsidiary of Ritesh Properties and Industries Ltd, plans to open 50 stores in India by 2009-end and will invest around Rs 4 million for each store. As part of the expansion plan, the company will open some more stores in NCR regions to strengthen its presence and will move to the central India, especially Mumbai, a top company official said.
“Initially, we will focussing on NCR regions. We already have stores in NCR but we want some more stores to strengthen our presence in the region. Our next target market is Mumbai,” Sanjeev Arora, MD, Femella Fashions informed IndiaRetailing. Currently, the company is operational with seven stores in Delhi, NCR and Jalandhar.
He further said that once the company has covered up the prime locations, it will explore viable areas for opening stores in tier II and III cities.
The company also retails its products through online shopping portal which generates around 4 per cent of the company’s total sales figure. “Our online shopping site is also getting popular but as of now if the percentage of sales is concerned, it has been generating around 3-4 per cent of total sales of Femella Fashions,” he said.
Though the company is in no way coming to menswear segment, he informed that by April this year, the company is adding fashion accessories and jewellery products for women with their existing portfolio.
Meanwhile, the company is in talks with leading firms to prepare franchise agreement models for the company. “We are trying to put together franchisee model and are in the process of appointing a professional company which will prepare the agreements for us. Hopefully we will be ready with that in the next two months,” concluded Arora.
— Sarimul Islam Choudhury