Oswal launches store in Ludhiana

Oswal Group's Oswal Retail Pvt Ltd (ORPL), a major player in the branded undergarment retail market, has plans to expand and consolidate its presence with 120 stores in the country by 2009 with an investment of about Rs 60 crore.

The company is also bullish about the Indian undergarment market and plans to capture a 5 per cent market share of the organised retail category by 2010.

ORPL today launched "Straps", its first exclusive store of Punjab (in Ludhiana) and 12th in the country. Straps is a multi-brand retail platform offering a complete range of undergarments for women.

Recognising the potential of the Punjab market, ORPL plans to strengthen its presence in the region by increasing its points of operation to six by 2007-08. Plans are afoot to launch stores in Chandigarh, Mohali, Jalandhar and Amritsar.

Speaking to Business Standard, Adish Oswal, managing director of Oswal Retail Pvt Ltd, said, "We identified a need gap in the retail market for undergarments in India in terms of retail format, shopping environment, brand experience, the range of offerings, etc. Our first of its kind multi-brand retail initiative in the category was launched in 2004."

"The organised undergarment retail market in the country has been pegged at Rs 2,200 crore and is expected to grow at 70 per cent per year till 2009. We plan to capture 5-6 per cent of this by 2010. We are also targeting a group turnover of Rs 1,000 crore by 2010 and are optimistic that the retail segment will contribute 25 per cent of the turnover by 2010," he said.