Prateek Lifestyle, the retail arm of Bangalore-based apparel manufacturer Prateek Apparels, has charted out a major retail expansion of its value lifestyle format ‘Coupon’ and kidswear brand ‘Kanz’ across the country at an investment of Rs 350 crore.
The company would raise this amount through a combination of promoter funding, debt and equity.
The six-month-old retail venture, which currently has two Coupon malls - one each at Bangalore and Raipur in Chhattisgarh with a combined carpet area of 50,000 square feet - plans to add 12 to 15 stores each year for the next two years, thereby occupying approximately one million sq ft of retail space.
“The parent company has been providing design to manufacturing to delivery solutions to most of the leading brands and retailers,” group MD Pradeep Agarwal told.
With strong understanding of fashion trends and Indian consumers, we thought this was the right time to exploit opportunities in the growing retail space
According to industry estimates, the Indian retail market, which is the fifth largest retail destination globally, is expected to grow from $342 billion in 2007 to $427 billion by 2010. Of this, the organised retail, which at present accounts for 4 per cent of the total market, is likely to increase its share to 22 per cent by 2010.
Coupon malls, with an average size of 30,000 sq ft each, would be opened in metros and mini-metros, besides potential tier-II and tier-III towns.
Apart from Bangalore, National Capital Region, Mumbai, Chennai and Kolkata, other regions that are on the company’s radar include Hyderabad, Kochi, Kozhikode, Nagpur, Pune and Lucknow. “We should be having eight to 10 stores in south itself,” he added.
Prateek had entered into a licensing agreement with European kidswear brand Kanz in September 2007.
“We already have exclusive brand outlets for Kanz at Delhi, Ludhiana, Kolkata, Mumbai and Bangalore. We will be taking this to 35 exclusive brand outlets by this year end and will be at 100 retail doors in totality,” he said, adding that the company was also contemplating launching smaller discounted formats at a later stage.
The parent company, comprising Prateek Lifestyle, manufacturing arm Prateek Apparels and Munch Design Worx, a division that offers a range of textile and accessory designs and visual merchandise concepts to international and domestic clients, garnered revenues of Rs 275 crore last year. Exports account for about eight per cent of its revenues.
Prateek Lifestyle plans Rs 350 cr expansion
K Rajani Kanth / Hyderabad Feb 15, 2008, 05:40 IST
Respected sir, i read your future agenda for expansion of your outlets...really good to here that..and congrats for that..i am by profession a professional (CS)having lots of places in my knowledge which gives you a good return on your investment and very approachable to the customers. personally i have a link in north zone..exaple...U.P & uttranchal states ,,if you have any interest for these side expansion of your project..Allow us to give you the detail plans and layout for this.
with regards
Prateek Saxena
me ravikant sharma the franchisee stores maker all over india contact 09316019358.I have not projected well about me by writing few lines about me but if you realy want to know than contact me for best future of your new stores
dear sir there is a building available which is about 13150sqft near outer ring road Mahadevapura Bangalore....if your interested in the offer please contact on 9900196144 thank.
dear sir my self dileep gupta we are a retail consultant.we are providing
space with investors in north and west india.we are delhi based company we are working with all major brands like levis,signature,numero uno,black berry,spykar,reebok,adidas,etc.my address given below.
m/s.pavak associates
e-16/325,sector-8
rohini-delhi-110085
m.no.09871593032
prateek lifestyle hyderabad
Kind attn Mr k rajani kant
Dear sir
I have about 500 sq ft area covered commercial space at upper ground floor at sahara plaza gomti nagar lucknow location is very prime purposes may show room or garment store etc if you are interest may please contact mob 9415371648 or mail at ramsunshubh@yahoo.co.in reagrd ramesh misra
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