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| Welspun Retail expects to break even this fiscal |
| Press Trust of India / Mumbai Jul 14, 2009, 18:56 IST |
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Home furnishing retail chain Welspun Retail expects to break even this fiscal and also targets revenue growth of Rs 135 crore in FY2010, a top company official said.
"We expect to break even this year," Welspun Retail Director Dipali Goenka told reporters here.
"In the current fiscal, we expect to clock 15 per cent growth in our revenue at Rs 135 crore," Goenka said.
The company had earned Rs 115 crore revenue in the last fiscal, she said.
Welspun Retail, would focus more on consolidation of its operations, she said.
The company retails its products under two brands — Welhome and Space Home and Beyond.
It has around 200 Welhome stores in around 120 cities and around 2 flagship stores of Spaces.
"We plan to open 20-25 more Welhome stores in this fiscal. Most of these stores will be through franchisee routes," Goenka said, adding the new stores would come up in the southern parts of the country.
"By FY13 we are planning to have 400-500 Welhome stores."
Out the total Welhome stores, the company owns 50 per cent while the remaining are franchisee-owned.
"At present, we have 60 per cent of our stores in Tier I cities and 40 per cent in Tier II cities. If there is business potential in Tier II and Tier III, we will focus on these markets as well," she said.
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