Globus Stores forays into kidswear segment
Set up standalone F21 outlets in malls and shop-in-shops inside other apparel retailers
August 11, 2011 | comments ( 0 ) |
Globus Stores, the R Raheja Group-owned apparel retail arm, is planning to roll out a specialty retail format for casual and club wear for its private label brand F21 and venture into kids wear to shore up margins in the highly-competitive apparel retail market.
“The 213-crore company will set up standalone F21 outlets in malls and shop-in-shops inside other apparel retailers. The return on investment from standalone F21 stores is expected to be much more since they would be set up over smaller space and deliver higher margins," said Vinay Nadkarni, managing director and CEO, Globus Stores.
Globus, which enjoys 2-3% share in the branded apparel market and operates 32 stores across India, plans to venture into the kidswear space as well. The company on Wednesday rolled out a store in Kolkata. The company's earlier target of setting up 100 stores by 2012 has been impacted by the economic slowdown.
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