EVOK going big
Working around their 250 crore expansion blueprint.
Tags: EVOKAugust 09, 2012 | comments ( 0 ) |
EVOK by hindware launches its 11,000 square feet store in Kirti Nagar, New Delhi. This store is a part of their ongoing Rs 250 crore expansion plan. The store is divided into three levels, each giving an experiential environment for speciality home interiors. This is EVOK’s 17th retail store. Speaking about the expansion plans, D K Jairath, CEO, HHRPL, said, “We have already established our footprints in North and West India, now we are eyeing to expand our presence in south India. Locations will be Chennai, Bengalore, Hyderabad and Coimbatore. Eight to ten similar stores will come up in this fiscal year”.
EVOK showcases more than 16,000 products and also offers design and build services which includes interior designing of its customers.
In an interaction with Retailer, Jairath disclosed that they are also eyeing various other retail channels. EVOK has already opened its shop in shop stores in Bombay and Bangalore in collaboration with Hypercity. They are also in talks with Shoppers Stop which is their next target. Apart from shop in shop format, EVOK will also be adopting the franchise model. The stores will be of area 1000 square feet and will have design studios and other products. Franchised stores will seek an investment of 12-15 lakhs. Jairath is also planning to take EVOK online very soon.
EVOK’s sourcing is 80 per cent dependent on imports from countries like Germany, Italy and Malaysia. And to minimise the shipping and other transportation costs, they will very soon be targeting the Sri lankan market.
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