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Globus to invest Rs 25-30 crore on expansion

Globus, a popular apparel chain, is planning to give its customers five more stores with an investment


June 18, 2010  |  comments ( 4 )  | 
Globus to invest Rs 25-30 crore on expansion

 

Globus, a popular apparel chain, is planning to give its customers five more stores with an investment of Rs 25-30 crore. The brand is promoted by Rajan Raheja Group.

 

Due to recession, the company was hesitant to open more stores last year, but now it is geared up to open more outlets, this fiscal.

 

“Last year has been tough for all retailers and it was same with us. We saw a lull in the first quarter, but it picked up later and we closed our books with a top line growth of 4 per cent. For the current financial year, we hope to achieve a growth of 17-18 per cent,” said Vinay Nadkarni, managing director and chief executive officer, Globus Stores Private Ltd.

 

At present, the company has around 25 stores with a carpet-area of 2.5 lakh sq ft for its retail operations. Focusing on its private labels, it has opened a designer studio in Andheri, Mumbai with the investment of Rs 60 lakh. Globus vies with Pepe Jeans, United Colours of Benetton, Wrangler and Lee.

 

The company contemplates to open its outlets in the cities namely Nagpur, Aurangabad, Vijayawada, Pune and Hyderabad.


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mukesh ohdar December 10, 2014 at 10:46 pm

I am very much interested in buying franchise of Globus store in Chhattisgarh. Looking forward for your positive and early response.

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Ashish December 05, 2014 at 1:51 pm

I am very much interested in buying franchise of Globus store In Chandigarh. Looking forward for your positive and early response.

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Kassim Roy July 01, 2010 at 10:46 am

I am interested in buying franchise of Globus in Surat.. is there any scope from company.

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DEEPAK AGRAWAL June 19, 2010 at 12:47 am

i m very much interested in a globus store in jabalpur(mp)looking forward for ur positive n early response

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