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| Prateek to invest Rs 400cr in retail |
| BS Reporter / Chennai/ Hyderabad Sep 05, 2008, 02:09 IST |
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Prateek Lifestyle, the retail arm of Bangalore-based apparel manufacturer Prateek Apparels, plans to invest Rs 400 crore in expanding its various retail formats in the next four years.
The company, a relatively new entrant into the value retail segment, opened its third ‘Coupon’ discounted mall in Hyderabad on Thursday. It plans to open 50 such discounted malls across the country by 2012, Pradeep Agarwal, managing director of the company, told mediapersons here. The first ‘Coupon’ mall was launched in Bangalore in June 2007 and later in Raipur.
Agarwal said the company had already signed up six properties across the country and planned to have 12 more by March 2009. “A mall each will be coming up in Faridabad and Kozhikode in the next 10 days,” he said.
The company would infuse a majority of the investment into its value-for-money Coupon format and the rest in its European kidswear brand Kanz. It currently has 140 Kanz stores. It plans to take this number to 350 by 2012.
“Post expansion, the company will have a retail space of three million sft,” he said. Prateek Lifestyle garnered revenues of Rs 249 crore last year.
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