.Clothing company Cantabil, which works 550 shops in 250 communities of the nation, is planning to penetrate much deeper into tier II and past by opening up 85 brand-new retail stores this budgetary, Deepak Bansal, director, Cantabil informed ETRetail.The label is actually also paying attention to extending its own store dimension from 1,250 sq.ft to 1,600 sq.ft as larger establishments are actually yielding much better profits." This fiscal year, we are actually preparing to invest Rs twenty crore to help the growth plans and away from the 85 shops that our experts are planning to open up, 20 per cent will definitely be actually using franchise path as well as the continuing to be 80 per-cent stores will definitely be actually company-owned as well as company-operated," he explained.At present, 15 per-cent of the outlets of the brand reside in the stores and also the staying 85 per-cent get on the higher streets, as well as the brand considers to go on with the same ratio later on as well." 20 percent of our outlets remain in metro as well as tier I urban areas, 40 per-cent in tier II metropolitan areas, as well as the staying 40 per-cent in rate III and beyond," he added.Last financial, the company forayed right into brand-new categories like activewear and also shoes. These brand-new classifications assisted Rs 2.6 crore towards the FY 24 revenue and this budgetary, the brand is actually expecting the classification to grow more and support Rs 10 crore." In FY 23-24, we opened 5 unique stores for activewear and also shoes as well as incorporated this as a new group to 60 of our existing family members retail stores, as well as this , our experts are actually planning to include these groups to 30 additional household shops as well as will not be opening exclusive stores," he asserted." Apart from this, at present, our experts have forty five special shops focussing on women and children and also this budgetary, we are actually intending to add 15 more stores," he even further added.In the previous fiscal, accessories contributed to 5 percent of the total sales, and also this economic, the brand name is actually checking out to take its addition to 6 per-cent. The label, which enrolled 5 per-cent sales coming from online stations last financial, is intending to boost it to 7.5 percent this monetary." Our offline average ticket dimension stands at Rs 4,600 along with average asking price of Rs 1,100," he stated.The brand, which was actually targeting to shut final budgetary along with Rs 675 crore revenue wound up closing it at Rs 620 crore, as well as this financial, it is trying for Rs 750 crore earnings.
Posted On Aug 29, 2024 at 01:27 PM IST.
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