s.Oliver mulls expansion, to have 77 outlets by 2012

German premium fashion and lifestyle brand s.Oliver today said it will invest around Rs 47 crore by 2012 to have a total of 77 outlets and shop-in- shops across the country.

The company, which is present in India under a 50:50 joint venture with Orient Craft, also plans to introduce a range of high-end accessories in multi-brand chains as it aims to be the largest premium segment brand in the country in six years.

"We will have a chain of 77 outlets and shop-in-shops (now) across India by 2012 and we intend to become the largest premium segment brand by 2015 with a turnover of at least Rs 250 crore," s.Oliver Fashion India Chief Operating Officer Gaurav Sehgal told PTI.

S.Oliver sells apparels and accessories with an average price of Rs 2,500 and competes with the likes of Van Heusen, and Louis Phillipe.

In 2007, the company planned an investment of Euro 10 million (around Rs 65 crore) over a period of five years. The company today opened its seventh sales point in Delhi.

"We have spent Rs 18 crore in opening four outlets and three shop-in-shops. In the next three years, we will spend the balance Rs 47 crore to take our total points of sales to 77, including 39 outlets and 38 shop-in-shops," Sehgal said.

He said the major premium brands in India together have an annual turnover of around Rs 1,500 crore and s.Oliver wants to be the biggest among them by 2015.