Apparel brand Cantabil Retail India plans to expand its presence across the country by raising in one year the number of outlets to 400 from 290 and invest Rs 25 crore in tier I and II cities.
“2019 has been a positive year and we are hopeful to continue with the same growth momentum in the coming year. There is a significant increase in awareness about the fashion trend among the people in smaller towns and cities. We see immense potential in tier II and III markets for expansion,” said Deepak Bansal, Director, Cantabil.
The company was looking to offer the best of fashion and quality, Cantabil said in a statement. “Our target states are Maharashtra, Gujarat, Rajasthan, UP, Madhya Pradesh, Bihar, Jharkhand, West Bengal and part of Northeast,” it said. The company is present in 16 states.
As per the statement, the company, which clocked Rs 289 crore revenue in 2018-19, is eyeing 30 per cent growth in this financial year.