Intimatewear major Triumph International India with the launch of its flagship store in New Delhi has announced its plan to set up 10 flagship stores and 50 exclusive stores in the country by December 2009. Further the company, besides focusing on exclusive branded outlets, will continue its expansion through multi branded outlets, informed Thorsten Allenstein, managing director, Triumph International (India and Sri Lanka).
Spread across 2,000 square feet, the newly launched first flagship store offers 170 varities of intimate wear. However, the stores under the proposed expansion plan will spread over 800 to 1,200 square feet, according to Allenstein. The company, which has two stores in Mumbai, and one store each in Delhi and Ahmedabad, plans to stick to metros including Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennai in this first phase of expansion. “We would also set up about 50 stores in malls and many are at final stages of discussion,” said Allenstein. Moreover, the company also plans to hire about 300-600 people in sync with its expansion plans.
The company has earmarked an investment of about 65 million dollars for its retail expansion.
“On an average, we would spend about USD 1-1.5 million on each store. We are a cash-rich company with Rs 160 billion turnover annually and the recession would be good for us as we can look for more properties to expand base,” he said.
India contributes less than a per cent to the global business but with the 100 per cent growth we are witnessing, we are sure of becoming a part of the top five countries in the next five years, he added.
— Shailesh Shah