Archies is mulling towards making its mark towards expansion in the retail industry by adding the store launch around 30-40 in the fiscal year.
The company has earmarked the investment plan of Rs 6-9 cr. Currently on an average investment in one store amounts to around Rs 20-30 lakh. The majority of the stores that are due to open will be in Tier II cities.
Archies retail operations accounts for about 55% of the total revenue and is currently possessing around 170 stores across the country. The main focus of the company is to garner the demands from corporates, greeting cards biz etc.
The company is dealing in the brands like American greetings, Carte blanche, Fizzy Moon, Russ Berrie.