Espirit plans India expansion

The soaring rentals could not avert our expansion spree as the company broke even after two years of its launch in October 2003, said Manjula Tiwari, chief operating officer, Esprit.

"The rupee appreciation also helped us gain respectable profits," she added. She said that the brand did exceedingly well in the metros and they plan to open 150 retail outlets in the next three years. The company does not adhere to the franchisee model and would opt for company-owned outlets.

According to Tiwari, the completion of shopping malls in tier two and tier three cities will help them expand their operations in the next two to three years. "The kids range is the fastest growing segment in retail but the space constraint is the main reason behind Esprit's limited expansion. Esprit's kids collection was available only at four stores," She added. as of now and Chandigarh being one of those," she added.

"We intend to open large stores to be able to include the entire range of our family collection at a single sale point, Tiwari said.

The company expects to double its turnover from Rs 75 crore to about Rs 160 crore by next year.