United Retail, a 35-year-old company with an annual turnover of Rs one billion from its kidswear export, has announced its plan to foray into the apparel retail segment. The Delhi-based company plans to invest Rs 500 million to set up 80 outlets of its kidswear brand Urban 10 across the country in the next five years.
“We will be setting up the first retail outlet by January 2009 and plan to have 80 such stores by 2012-13 with an investment of Rs 50 crore (Rs 500 million),” said Jeevash Vaid, CEO and managing director, United Retail.
Meanwhile all Urban 10 outlets would be exclusively company-owned and will have an area of 1,500-2,000 square feet, disclosed Vaid.
The company that started its kidswear business this January with launch of the Urban 10 brand aims for a turnover of Rs 7-8 million from each of its retail outlets once the expansion process is over.
Further the company is also in discussion with some of the major retail players, including Lifestyle and Shopper’s Stop, for selling its kidswear, informed Vaid.
— IndiaRetailing Bureau