.Clothing label Cantabil, which functions 550 stores in 250 cities of the country, is organizing to penetrate much deeper into rate II and beyond by opening 85 new outlets this monetary, Deepak Bansal, supervisor, Cantabil told ETRetail.The company is actually also focussing on expanding its own store size from 1,250 sq.ft to 1,600 sq.ft as greater outlets are generating better yields.” This fiscal year, our company are considering to commit Rs 20 crore to help the expansion plans and also away from the 85 shops that our experts are actually planning to open, 20 percent will be by means of franchise business option as well as the continuing to be 80 per-cent shops are going to be actually company-owned and company-operated,” he explained.At present, 15 percent of the retail stores of the company are in the malls and the remaining 85 per cent perform the higher streets, as well as the brand plans to go on with the same proportion in the future at the same time.” twenty per-cent of our outlets reside in region and also tier I areas, 40 percent in rate II urban areas, and also the staying 40 per cent in rate III and beyond,” he added.Last financial, the company forayed in to brand new categories like activewear and footwear. These new groups supported Rs 2.6 crore towards the FY 24 income and this budgetary, the company is expecting the classification to grow more and also contribute Rs 10 crore.” In FY 23-24, our company opened 5 special stores for activewear and also footwear and also incorporated this as a brand-new category to 60 of our existing family outlets, as well as this , we are actually planning to include these classifications to 30 more loved ones stores and will not level special outlets,” he insisted.” Aside from this, currently, our team possess 45 unique outlets focussing on ladies as well as kids as well as this fiscal, our experts are actually targeting to add 15 even more retail stores,” he further added.In the previous budgetary, accessories supported 5 percent of the general sales, and also this monetary, the brand is considering to take its addition to 6 per cent. The brand name, which signed up 5 percent sales from online channels final budgetary, is preparing to increase it to 7.5 percent this budgetary.” Our offline average ticket size endures at Rs 4,600 along with average selling price of Rs 1,100,” he stated.The label, which was targeting to shut last economic with Rs 675 crore profits found yourself shutting it at Rs 620 crore, and also this budgetary, it is actually pursuing Rs 750 crore income.
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