Home interiors and decor brand Evok which has 17 mega format stores has decided to expand its presence across the country through franchising in North and South India. The company will launch the franchise model only for modular kitchens. Evok will focus on Agra, Meerut, Jalandhar, Bhopal, and Patna in phase I of the process, which will begin by end of this year. It will be followed by phase II for South India. The company has set a target of developing 10 -12 locations for FY 13-14. With an investment of Rs 25 to 30 lakh and retail space of 1,000 to 1,200 sq.ft., the franchised stores will be small format stores. The brand from the house of Hindware Home Retail Private Ltd (HHRPL), is a 100 percent subsidiary of HSIL Ltd.
Commenting on the move, Ajay Seth, COO, EVOK, said: “A franchisee model in the modular furniture industry is a first by Evok. At present the modular kitchen industry is around Rs 2,000 crore and witnessing an impressive 25 percent growth year-on-year, fuelled by demand from non-metros. India’s franchising industry too is poised for immense growth in the next five years and retail will be one of the key sectors in its progress. We aim to capitalise on these opportunities and are investing heavily to provide franchisor support and impart knowledge for the entire business project, from site selection, installation, training and promotions.”
He further added: “The aim is to improve our market share from 15 percent to around 25 percent in the modular kitchen market by FY 13-14 but it will be important to maintain Evok’s premium quality imagery and service thus the selection process for a franchisee partner will be stringent.”
Hindware Home Retail entered the modern retail sector with Home Interiors Specialty business in 2008.