Ethnic apparel major Chhabra 555 has announced plans to open four new stores by FY11-12. The company spokesperson confirmed that the brand is ready to debut in the city of Khurja and Patna for the first time, and strengthen presence in Jammu and Jabalpur by launching their second showroom.
Talking about the USP of the brand, Jagdeep Chhabra, Managing Director, Chhabra Triple Five Fashions, said, “Our vision is to become the ambassador of Indian culture by taking Indian ethnic wear for women to every nook and corner of the world.”
On asking about the expansion plans of the company, he added, “We have followed an aggressive expansion plan across India and we plan to focus on the same in the future. We will use additional resources, obtained largely through reinvestment of profits to build a network of stores across the country. Our major investment for the expansion plan will be in the form of inventory. Our plan is to invest significantly in improving our merchandise and refining our product offering even further. We will leverage our established supplier base, strengthen the distribution network and introduce effective accounting mechanisms to spur this growth.”
He further added, “We plan to increase our focus on export and foreign bulk buyers during the next year.”
Talking about the franchising route, Chhabra said, “We have been utilizing the dealership route to escalate our market share and simultaneously enter new markets. We plan to replicate this model for launching new brands in the future.”
Chhabra 555 retails ethnic wear for women. The product range includes sarees, lehengas, suit dupatta and bridal wear. The brand currently has stores operational across cities of Delhi and NCR, Lucknow, Jodhpur, Raipur, Bhatinda, Panchkula, Meerut, Patiala and many more.
The retailer prefers to open stores only at the high street rather than malls, since the ROI of high street areas is often higher than mall locations.