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| Peter England to open 100 value stores this fiscal |
| Press Trust of India / New Delhi Jun 25, 2009, 15:25 IST |
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Peter England Fashion and Retail (PEFR) will strengthen its value segment, which includes brands like Elysee, Byford and Spin Off, by opening around 100 exclusive outlets this fiscal dedicated to the category.
"These brands have been in our portfolio for some time but we have never aggressively promoted them. Now we plan to build up the brands as part of our strategy to strengthen the value segment and we plan to open around 100 exclusive stores of these brands by the end of the fiscal," Peter England Fashion and Retail (PEFR) President Aloke Malik told PTI.
Malik said the company will open 20 stores in the first half of the fiscal across the country, including metros and small towns like Haridwar and Rae Bareilly, and go through the franschise route to open it.
PFER has around exclusive 300 stores across the country which sells its Peter England menswear brand.
"Our premium brands are doing very well. However, we are also strengthening our position in the bottom-end as more and more consumers are going for ready-to-wear at an affordable price," he said.
Value retail stores are those outlets which offer brands at an affordable rate, and the price range of the brands are around Rs 249 to Rs 449. PEFR is a mid-priced apparel division of Aditya Birla Nuvo.
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