Ritu Wears, a lifestyle regional brand in India, has forged a deal with Avinash Developers (ADPL) to roll out a 40,000 sqaure feet store at Magneto Mall in Raipur.
Vishaal Rangwane, Assistant Manager, Leasing, ADPL, confirmed that the company has signed the biggest family chain store of North India and a leading name in Delhi's fashion industry -Ritu Wears .
The store will be opened tentatively in the first week of October this year in Magneto Mall, Raipur. The brand will be investing Rs 3.5 crore for the venture, who has agreed on the revenue-sharing rental model along with minimum guarantee with ADPL.
In March, it opened a 40,000 sq.ft store in C-21 mall at Indore, in MP.
Magneto Mall, Raipur, whose 70 per cent space is leased out, is under negotiation with Bharti Wal-Mart (Easyday), Shoppers Stop, Marks & Spencer, Reliance Trends, KFC, Pizza Hut, Catwalk, Pepe Jeans, Numero Uno and UCB, confirms Rangwane.