Hibiscus retail announces expansion plan

The company targets revenue of Rs. 300 crores in next 5 years

Hibiscus Retail Private Limited has announced expansion plans for its brands ‘ALT’ Super Premium Multi Brand Store and ‘Garcia Jeans’ by setting up stores in leading metros, tier 1 and tier 2 cities on pan India level. The company has recently launched some of the premium European namely Galliano, C’n’C’, Massimo Rebecchi, MET Jeans, Patrizia Pepe, Altea and Desigual through its ‘ALT’ Super Premium Multi Brand Store. Positioned as ‘bridge-to-luxury (Price Range from Rs.5thousand to Rs. 20thousand)’, ‘ALT’ has wider selection of denim, casual wear and accessories targeted towards the vibrant young consumer. ‘ALT’ has recently unveiled its flagship store in Ambience Mall at New Delhi and opening shortly at Koregaon Park Plaza Mall, Pune. HRPL plans to expand its retail footprint of ‘ALT’ in Chandigarh, Chennai, Bangalore and Mumbai later this year.

Announcing these developments, Jitendra Rohra, Director, Hibiscus Retail Pvt. Ltd., says, “The bridge- to- luxury and super premium market in India has evolved rapidly over the years and is now witnessing a shift towards ‘affordable luxury’, where the consumer is looking to upgrade himself with brands that are not only aspirational but also accessible.  ALT’ will house some of the trendsetting super –premium (Rs. 5,000/- to Rs. 20,000/-) international labels that have developed a strong footprint in global market. With the changing lifestyles, trends and appetite for western tastes we believe there will be high degree of acceptance for brands in India”. Adding further, he said  “We plan to set up 250 sales points for Garcia Jeans by 2018. Garcia Jeans will use all retail vehicles i.e. Mono Brand Stores, shop-in-shops & E Commerce. We are targeting revenues of Rs 300 crores in the next 5 years.”