.Apparel brand Cantabil, which operates 550 stores in 250 cities of the country, is actually intending to penetrate much deeper into tier II and also beyond by opening up 85 brand new shops this fiscal, Deepak Bansal, director, Cantabil told ETRetail.The brand is additionally paying attention to expanding its own shop size from 1,250 sq.ft to 1,600 sq.ft as much bigger outlets are actually providing far better gains." This financial year, our company are preparing to spend Rs 20 crore to help the expansion plannings and away from the 85 retail stores that our team are actually intending to open up, twenty per cent will definitely be actually through franchise option and the staying 80 per cent stores will definitely be company-owned and company-operated," he explained.At present, 15 per-cent of the stores of the brand name are in the shopping malls and also the staying 85 per-cent perform the high streets, as well as the brand name prepares to go on along with the same proportion down the road too." twenty per-cent of our retail stores reside in local area and also rate I areas, 40 per cent in rate II areas, and the staying 40 per-cent in rate III as well as past," he added.Last financial, the label forayed right into new types like activewear and also shoes. These brand new groups contributed Rs 2.6 crore in the direction of the FY 24 profits and this economic, the company is expecting the classification to increase more as well as support Rs 10 crore." In FY 23-24, our experts opened up 5 special stores for activewear as well as footwear as well as included this as a brand-new classification to 60 of our existing family members retail stores, as well as this , we are preparing to incorporate these types to 30 even more loved ones shops and also will not level unique stores," he claimed." Apart from this, at present, our company have forty five special outlets focussing on ladies and little ones and this fiscal, our experts are actually aiming to incorporate 15 additional retail stores," he better added.In the previous fiscal, extras helped in 5 per cent of the total sales, as well as this budgetary, the brand is considering to take its payment to 6 percent. The brand, which enrolled 5 per cent purchases coming from online stations final monetary, is considering to improve it to 7.5 per cent this financial." Our offline standard ticket dimension stands at Rs 4,600 along with normal asking price of Rs 1,100," he stated.The label, which was targeting to close last financial with Rs 675 crore income found yourself shutting it at Rs 620 crore, and also this economic, it is actually going for Rs 750 crore income.
Published On Aug 29, 2024 at 01:27 PM IST.
Join the neighborhood of 2M+ sector specialists.Register for our email list to acquire newest insights & review.
Download ETRetail App.Receive Realtime updates.Save your favourite short articles.
Check to download and install App.