Unlimited, a large format value fashion retailer by Arvind Fashions, is looking to open 30-40 stores this fiscal.
According to Shekhar C S, CEO, Unlimited, the brand has a lot of catching up in terms of opening the stores, since they are the last entrants in the value segment chain.
“Our primary focus is to open 30-40 stores every year and that would involve an investment of Rs 120 crore,” he says.
“We have recently opened one store in Punjab, in keeping with our goal of focusing more on North India. Delhi-NCR and Uttar Pradesh will be our next focus markets. So far, we had restricted ourselves to the Western market, and we are strong in Pune. We also have a very strong presence in the South. The East is a market which we will be exploring a little late.”
At present, the brand has 100 stores across 60 cities.
“This year, we will be pulling in close to Rs 1,000 crore and for like-to-like store growth, we are expecting about 15 percent growth,” he adds.
The large value fashion retailer sells in-house brands like Excalibur, Colt, Newport, Karigari, Anahi, Sugr, Ruggers, along with licensed brands such as Elle Studio and Cherokee.
“Almost 90-95 percent of our turnover comes from our private labels,” says Shekhar C S.
The Omnichannel Experience
“Omnichannel is part and parcel of all retail today and that is the environment that we all need to accept. It is a big part of our growth strategy. We are now getting into region-based Omnichannel to start with as we are majorly concentrated in South,” he states.
Apart from this, the brand whose stores spans across 10,000 sq.ft. area, is also planning to introduce a fully-digitised store soon.
Tracing The Brand’s History
Three-and-a-half years ago, Arvind Fashions closed its discount-based venture Megamart to start a private label in the value fashion space.
“Arvind is a very old group and has had a very strong presence in menswear. This provided us with the perfect opportunity for getting into a family concept. With Unlimited, everything just fell into place very nicely,” he says.
“As a group, Arvind does not believe in cheap products. Our objective is to give the consumer value-based products, while laying the emphasis on quality,” he concludes.