The Loot, multi-brand fashion discount chain, is on a rapid expansion spree. The brand will be opening 50 exclusive stores by June 2010.
It has opened its first 1,500 sq.ft store-in-store (SIS) format at Sahakari Bhandar at Prabhadevi, Mumbai which will be followed by four such similar stores in Mumbai. This takes the total number of outlets of The Loot to 152 with a retail space of over 3,00,000 sq.ft across India.
Jay Gupta, MD, The Loot said, "With a platform such as Sahkari Bhandar we hope to reach out to wider audience by providing great brands and affordable tags. We are planning to open more shop-in-shops in FY 2010-11, taking the total no of stores to 200 by end of the fiscal." He also added that they are planning to expand in tier II and III cities where the population is more than a lakh. The Loot will open its new stores in both high streets and malls.
Apart from SIS format, The Loot is present in small (upto 2,000 sq.ft), medium (2,000-4,000 sq.ft), large (4,000-8000 sq.ft) and extra large formats (more than 8,000 sq.ft) across India.
Gupta added, "The Loot customers will be the biggest beneficiary of this expansion as it will give them greater access to The Loot and its wide range of merchandise. The collections will be modified as per the area giving customers more to choose from.”
He also added that normal investment in a store stands at approximately Rs.2,500 per sq.ft all inclusive.
— Shubhra Saini