.Clothing brand Cantabil, which works 550 shops in 250 towns of the country, is actually organizing to permeate much deeper into tier II and past by opening 85 new stores this fiscal, Deepak Bansal, director, Cantabil told ETRetail.The brand name is actually additionally focussing on broadening its retail store size from 1,250 sq.ft to 1,600 sq.ft as bigger outlets are actually providing better returns." This financial year, our company are actually organizing to put in Rs 20 crore to help the growth plans and away from the 85 outlets that our company are preparing to open, 20 per cent is going to be actually using franchise business option as well as the staying 80 percent establishments will definitely be company-owned and company-operated," he explained.At current, 15 per-cent of the stores of the label reside in the stores and the remaining 85 per cent get on the high streets, and the company intends to go on along with the exact same proportion down the road as well." 20 per-cent of our stores reside in metro and also rate I areas, 40 per cent in rate II areas, and the continuing to be 40 per cent in tier III as well as beyond," he added.Last fiscal, the brand forayed in to brand new types like activewear and also footwear. These brand-new categories assisted Rs 2.6 crore in the direction of the FY 24 revenue as well as this economic, the brand name is assuming the category to develop additional as well as support Rs 10 crore." In FY 23-24, our company opened 5 exclusive shops for activewear and also footwear as well as added this as a new group to 60 of our existing family members shops, and this , our company are actually considering to include these types to 30 more family members retail stores and also won't be opening unique outlets," he declared." In addition to this, nowadays, our team have 45 exclusive stores concentrating on females and also little ones as well as this economic, our experts are targeting to add 15 additional stores," he additionally added.In the previous budgetary, add-ons supported 5 per cent of the general sales, as well as this monetary, the brand is eyeing to take its own contribution to 6 percent. The brand, which registered 5 per cent sales coming from online stations last fiscal, is organizing to enhance it to 7.5 per cent this budgetary." Our offline standard ticket dimension remains at Rs 4,600 with average selling price of Rs 1,100," he stated.The brand name, which was actually targeting to shut final fiscal along with Rs 675 crore earnings wound up closing it at Rs 620 crore, and this budgetary, it is actually trying for Rs 750 crore revenue.
Published On Aug 29, 2024 at 01:27 PM IST.
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