You are here: Home » PTI Stories » National » News
Business Standard

Peter England aims Rs 1,600 cr sales by FY 2020-21

Press Trust of India  |  New Delhi 

Aditya Birla Fashion and Retail's clothing brand Peter aims a turnover of Rs 1,600 crore in the next four years on the back of expansion in sales network and growth in online sales.

Besides, Peter plans to foray into South Asian markets such as Indonesia, and

As part of expansion plans, the brand has plans to add 250 exclusive outlets in the next three years, taking the total number of such outlets to around 1,000, a top company official said.

"We would grow by 50 per cent in the next four years and it would be around Rs 1,600 crore by FY 2020-21," Peter Brand Head Manish Singhai told PTI. Peter has a turnover of around Rs 1,000 crore, at present.

He further said: "The brand is growing between 10-15 per cent per year (in terms of value). In the next 3-5 years, we will continue to grow as the organised sector is very small in and there is large scope for the branded garment."

Peter England, which is present in the Middle East, would soon open stores in South Asian countries to target the Indian diaspora.

"We are now looking at Indonesia, and very actively and subject to real estate cost, we would set up distribution network there. About three years from now, we would have our stores there," he said.

Aditya Birla Fashion and Retail has 16 overseas stores, of which five are in Nepal, two in Sri Lanka and remaining in the Gulf countries such as UAE, Kuwait and Bahrain.

Overseas sales contributes around 6 per cent of the total sales of Peter and it expects it to remain same in near future as the domestic market's contribution would also grow.

Top eight metros contribute 25 per cent of domestic sales of the brand and the rest 75 per cent comes from tier-II, -III and -IV places.

The company, at present, spends around 5 per cent of its total sales on marketing and branding.

"Around 3 per cent of our turnover comes from online sales and we believe that it can go up to 10 per cent in the next 3 years," Singhai said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 17:28 IST