Kidswear retailer Urban 10, the flagship brand of United Retail, plans to open eight stores by the end of 2009 and is targeting a turnover of Rs 120 million during the period. The company also plans to adopt franchisee route to strengthen its presence across the country, a top company official said.
“We will partner with franchisees for further expansion. As per the company guidelines, they must have a retail space in between 700 to 1,000 square feet. Also, we are looking for an investment of around Rs 0.5 million in store fit outs and Rs 0.8 million in stocks from their side,” said Jeevash Vaid, founder and CEO, Urban 10.
“Right now we are present in north and east of India and will gradually be going to west and south of India. We will also move to smaller cities in later stage, besides expanding in metros,” added Vaid.
Currently, the company operates one EBO in West Gate mall in Delhi, three large format stores and its products are sold through 60 MBOs including Ebony and Chunmun.
Meanwhile, Vaid recognised that people were a bit hesitant during inflation period but as the festive season arrived, sales picked up its pace again and he is very optimistic about retail during this year.
— Sarimul Islam Choudhury