Footwear major Catwalk has launched its first exclusive store in Mangalore. Located at City Centre Mall, Hampankatta, the store is spread over an area of 550 sq.ft.
Catwalk has major expansion plans and is looking at metros, satellite cities, tier I and II towns as well as international destinations to further increase its presence.
By the end of FY 2014-15, the company plans to set up additional 190 standalone stores, including franchisees, taking the total retail space to over 125,000 sq.ft with an estimated investment of approximately Rs.550 mn. The company will resort to internal accruals, franchise tie-ups and bank funding to fund its financial requirements.
On the revenue front, Catwalk is targeting a turnover of Rs.5 billion by FY 2014-15. The company expects its standalone stores to contribute close to 23 per cent of the business and the remaining to come from the SIS model.
– Nivedita Jayaram Pawar