Welspun Retail Ltd, a part of Welspun Group, is planning to have a pan-India presence within next three years. The home fashion major is also eyeing the Middle East market.
Hoping to break even next fiscal, the company is targeting a turnover of Rs 500 crore and a profit of around Rs 50 crore by 2010.
Welspun Retail runs its business in two formats, Spaces and Welhome, and both are expected to be reinforced with more outlets.
“We plan to have a Welhome network of 300 stores by financial year 2008, from the present number of 100, and further scale it up to 800 by 2010. We will be expanding our network in towns that have over 1.2 million households, and there are nearly 800 such locations in the country,” said Deepali Goenka, director, Welspun Group.
Each Welhome store will be 800-2,000 square feet and stock around 40 per cent of its own products including terry towels and bedsheets, while remaining 60 per cent products will be of other brands. Welhome is targeted at middle and upper middle class consumers who look for value for money but have strong aspirations as well.
The company’s Spaces Home & Beyond is a high-end brand. Its network will be expanded from the present 30 to 100 by 2010. “Our presence is very strong in the west. Now, we will expand aggressively in the north and south as well,” said Goenka.
