Denim brand Numero Uno is looking to open about 36 stores in the next three years in regions other than northern India, where it has strong presence through a network of over 180 stores.
According to a PTI report: As part of its expansion plans, the company will be tapping the southern and western market and is betting big on the demand from the regions.
The company will be investing over Rs 10 crore to open the stores.
“We would be opening 12 stores per year for the next three years, mostly in South and West India considering less presence in those regions compared to north India,” CMD, Numero Uno Clothing Ltd, Narinder Singh Dhingra told PTI.
East India is also on our cards as the market has a huge potential, he added.
The domestic apparel brand, which was once known as a jeanswear maker, has expanded its collections, including shirts, t-shirts and footwear, among others, and aims at gaining greater market share of the segment.
Incorporated in 1987, the company, which has never exported its products, is looking at various options to export from the next year.
The company is looking at a 15-20 per cent revenue growth, taking into account the planned expansion.
When asked about the investment, Dhingra was quoted by PTI as saying: “For an average size store of 600 square feet, the investment comes to between Rs 25-35 lakhs, which is what we are planning to do.”
The company also announced its foray into the premium sportswear segment ‘athleisure’ and aims to grab a substantial market share over the years.
Athleisure is a trend in which clothing designed for workouts and other athletic activities is worn in other settings, such as workplace, school or other casual or social occasions.