With an investment of about Rs 60 crore, Esprit, the premium fashion brand marketed by Madura Garments, plans to add around 25 outlets to its present network of 34 by the end of this year.
“The company touched breakeven point after two years of its launch, and is planning to tap the retail markets in India,” said Manjula Tiwari, chief operating officer, Esprit. The stores will be operated by the company and it will not take the franchisee route.
According to Tiwari, the space constraint is the main reason behind Esprit’s limited expansion. However, the expected mall boom in India will now let the company expand throughout the country.
The company expects to double its turnover from Rs 75 crore to about Rs 160 crore by the next year.