Aditya Birla Nuvo has planned to expand operations of its apparel retailing subsidiaries that include men’s exclusive lifestyle and Peter England family stores. The company is eyeing the super premium and luxury segment with plans to open three men’s exclusive lifestyle stores in Bengaluru, Delhi and Mumbai.
Vikram Rao, business director (textile and apparel), Aditya Birla Nuvo, said, “We plan to open around 10 to 15 men’s lifestyle stores in three years, and will invest around Rs 600 crore in the venture.
The company will also invest Rs 400 crore in the next five years to open around 80 Peter England family stores.
Meanwhile, Madura Garments, the company’s branded apparel division, plans to introduce more international brands and is expecting a turnover of Rs 4,500 crore in three years.
Madura, which currently retails brands including Allen Solly and Louis Phillipe, posted 26 per cent jump in revenues for the fourth quarter ended March 08 to Rs 276 crore as against Rs 218.93 crore in the corresponding period last year.
The company also reported revenues worth Rs 1,025 crore in FY08, up 24 per cent, as against Rs 830 crore in the previous year.