Hidesign, the Pondicherry-based premium leather goods maker will invest around Rs 20 crores to open new stores, introducing new technology and in R&D this year, said a top executive of the company.
Dilip Kapur, Founder and President, Hidesign, said, "We are investing heavily into R&D, technology and opening new stores. We would be investing a minimum of Rs 20 crore within this year."
The major thrust of the company will be on opening stores at the airport according to Kapur. Hidesign currently has around 8 outlets at the airport and will be looking to double that number in the next four months.
Kapur said, "I think Hidesign has become a core product in all the private airports. All private airports are offering us stores. Ours is a product that works extremely well at the airports because it makes for a great gift. We currently have 8 stores at airports and are planning to open 9 more stores at the airports in the next 4 months. We will more than double our presence at the airport."
The brand will also be opening outlets in Seawoods mall in Mumbai, One Awadh in Lucknow and Pavillion in Pune.
The brand also plans to open outlets at international airports which are heavily used by Indians in transit.
Kapur added, "We may open at airports which see a lot of Indian transit traffic. We are looking at Gulf where we have been invited for a couple of airports. We are also assessing couple of airports in Europe, Nairobi and Colombo to open our outlets. As we gain expertise in airport retailing we will look to expand our business to international airports."
Hidesign aims to triple revenues by 2021 by expanding network especially outside India.