Royal Classic Group (RCG), which owns brands like Classic Polo and Smash, plans to open 12 exclusive stores in the next 45 days. “Our target is to hit 100 stores by this December,” R Shivam, executive director, RCG, told Indiaretailing.com.
The company is expanding its retail footprint by adding 63 stores, apart from the existing 37 stores, across South India by December 2007. “Of the 63 new stores, 30 will come up in Karnataka, where 18 stores will be opened in Bangalore and rest in Mangalore, Mysore, Belgaum and Hospet,” Shivam added.
The stores, ranging from 500 square feet to 2,000 square feet, will be run on franchise basis. Each store will entail an average investment of Rs 20 lakh.
The group recorded a turnover of Rs 225 crore last fiscal, of which 30-35 per cent was contributed by Karnataka.