Sticking to its expansion plan, textile and retail major Alok Industries plans to open 1,000 Homes and Apparels (H&A) retail stores across the country in next five years, said a top company official.
“At present, we have 50 retail outlets and expect to double this figure by March next year. The company is eyeing to set up about 1,000 stores in the next five years aiming especially in tier II and III cities,” said, Sunil Khandelwal, chief financial officer, Alok Industries.
“We are looking at growing gradually. H&A stores, spread over an area of 800-1,000 square feet would be set up with an investment of Rs 20-25 lakh (2.0-2.5 million) on each store, aggregating to Rs 10-11 crore (100-110 million),” added Khandelwal.