Marc Cain bets big on India
To open 5 more stores in FY13.
Tags: Marc CainMay 02, 2012 | comments ( 0 ) |
Riding high on the wave for demand of luxury brands on the Indian shores, Marc Cain plans to open five more stores during the current fiscal. Presently operating two stores in Mumbai itself, the next leg of expansion spans across the metros. The first store will be in South Mumbai, two will come up in Delhi and one each in Hyderabad and Bangalore. Each store calls for an investment of Rs 3-4 crore and the company has set aside Rs 20 crore for these stores. The German company has posted 100 per cent annual growth for the last five years and sales worth Rs 30 crore are expected from the new stores within a year. Every store should do sales of Rs 5-6 crore in the first year itself. The company also plans to open stores in Kuwait and Qatar.
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