Megamart to invest 50 crore in expansion

Megamart, the multi-brand retail chain of integrated textile and apparel maker Arvind Ltd, is set to reposition its business presence by becoming an all-in-one family store from being a predominantly men's apparel retailer. The company plans to invest Rs 50 crore in expansion during the year.

“While the shift is gradual with women's brands and kidswear gradually getting stacked up in the stores, this is likely to get accelerated making this a total family store,” said J. Suresh, Managing Director and Chief Executive Officer, Arvind Lifestyle Brands Ltd. 

With over 225 stores in operation across two formats — Megamart and Big Megamart mostly in the South, Arvind is looking at stepping up the action by opening stores in other parts of the country. The company will initially focus on Tamil Nadu and Karnataka and later on Andhra Pradesh. These together constitute major chunk of the 225 stores with about 30 odd stores in Maharashtra, including Mumbai.