Welspun Retail expects to break even this fiscal

Home furnishing retail chain Welspun Retail expects to break even this fiscal and also targets revenue growth of Rs 135 crore in FY2010. The company expects to clock 15 per cent growth in our revenue at Rs 135 crore, in the current fiscal. The company earned Rs 115 crore revenue in the last fiscal. Welspun retails its products under two brands — Welhome and Space Home and Beyond. The company would focus more on consolidation of its operations. It has around 200 Welhome stores in around 120 cities and around two flagship stores of Spaces. They plan to open 20-25 more Welhome stores in this fiscal. Most of these stores will be through franchisee routes. The new stores would come up in the southern parts of the country. By FY13 they are planning to have 400-500 Welhome stores. At present, 60 per cent of the stores are in Tier I cities and 40 per cent in Tier II cities.