.Clothing company Cantabil, which works 550 retail stores in 250 cities of the nation, is organizing to pass through much deeper in to tier II and also past by opening 85 new outlets this fiscal, Deepak Bansal, director, Cantabil said to ETRetail.The label is actually also focussing on increasing its own shop measurements coming from 1,250 sq.ft to 1,600 sq.ft as greater retail stores are yielding much better returns." This financial year, our company are organizing to spend Rs twenty crore to assist the development programs and also out of the 85 shops that our team are actually planning to open up, twenty per cent will definitely be by means of franchise course and the staying 80 per-cent retail stores will certainly be company-owned as well as company-operated," he explained.At present, 15 percent of the retail stores of the company reside in the stores and also the remaining 85 per-cent are on the higher roads, and the company considers to go ahead along with the very same ratio later on at the same time." twenty per cent of our retail stores are in city and rate I areas, 40 per cent in tier II cities, as well as the continuing to be 40 percent in rate III and beyond," he added.Last monetary, the company forayed right into new categories like activewear and shoes. These brand new types supported Rs 2.6 crore towards the FY 24 revenue and also this economic, the label is anticipating the classification to grow more and contribute Rs 10 crore." In FY 23-24, our experts opened up 5 exclusive outlets for activewear as well as footwear and also added this as a new category to 60 of our existing loved ones stores, and this fiscal year, our experts are planning to incorporate these categories to 30 more household shops as well as won't be opening special outlets," he asserted." Other than this, currently, our team have forty five unique stores paying attention to girls and also children and this economic, our team are targeting to add 15 even more establishments," he further added.In the previous monetary, extras supported 5 per cent of the overall purchases, and also this fiscal, the label is actually checking out to take its own payment to 6 percent. The brand, which registered 5 percent sales from online stations final monetary, is planning to improve it to 7.5 percent this financial." Our offline standard ticket measurements remains at Rs 4,600 with typical market price of Rs 1,100," he stated.The company, which was targeting to shut final budgetary along 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.
Published On Aug 29, 2024 at 01:27 PM IST.
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