Tirupur-based Royal Classic Group will expand its network of Classic Polo outlets in the Southern and Western States this year (2009-10), taking the total number of outlets to 100.
The Rs. 420-crore company at present has 67 outlets. It plans to open 35 more this year. Of this, 30 will be in the Southern States and five in the West, according to T. R. Sivaram, Executive Director of the group.
He told The Hindu here recently that the company had also planned to start a hub office in Mumbai. It had nine stores in the Western States, which included Madhya Pradesh, Maharashtra, Goa and Gujarat. In the South, the company proposed to start 10 stores in Chennai.
Mr. Sivaram said the company’s revenues from the domestic retail business grew at 62 per cent year-on-year from 2002 to 2007. In 2008, the growth declined to 32 per cent. This year, it aims at a 35 per cent growth, taking the revenue to Rs. 100 crore from Rs. 65 crore.
Classic Polo products are also available in 3,500 multi-branded outlets. The company’s fourth outlet was opened in Coimbatore recently.
The group was also test-marketing T-shirts for girls and the product would be available in the market in another two weeks under the brand “CP She”.
Source: The Hindu