Delhi: Arvind Mills has announced a retail plan to reach
a sales turnover of a billion dollars by 2012. The company
will reportedly invest around Rs400 crore in the venture.
According to Sanjay Lalbhai, chairman and managing director
of Arvind Mills, "The retail space is buzzing and
we think the time is perfect for us to announce our retail
plans. Our retail expansion will straddle several formats.
We would like to be present across the entire spectrum
- value retail, to premium retail to luxury retail. Various
options for entry into these sectors are being considered.
We are ready with our plans for Megamart. This will be
our first leg of retail expansion."
According to Lalbhai, "We pioneered the value retail
space with ''Megamart''. Megamart currently is a 70-strong
network, across 25 cities. Now we plan to aggressively
expand this concept through the launch of Megamart Outlet
Centre which will be 50,000 to 60,000 sq feet large format
Lalbhai said the company has already signed up prime
properties in Chennai, Pune and Hyderabad for the expansion.
These three stores will be operational during the course
of this financial year. The first store in Chennai is
expected to open in December 2007.
The company plans to sign-up several more properties
during the coming months. Megamart plans to have 25 to
30 such Megamart Outlet Centres up and running across
the top 20 Indian cities over the next four years.
The "Outlet Centre" concept operates with the
objective of grouping a large number of brand outlet stores
at the same location. An outlet store offers their merchandise
to consumers at reduced prices, and the model offers a
wide range of high-quality brand-name goods in a concentrated
space at value prices.
The Megamart Outlet Centres will house a select set of
brands. Megamart Outlet Centre says it will offer a great
combination of an international shopping experience, value
prices, and ambiences at par with some of the best retail
chains of the world.
To achieve this, Megamart has engaged the services of
reputed design house JHP London, an award winning design
consultancy firm to design their stores.
JHP has designed and executed several retail projects
throughout the world, and are the designers behind Selfridges,
ASDA and other leading retail destinations globally, including
retail space of the upcoming Heathrow Terminals.
provide unparalleled service to customers, Megamart is
investing heavily on training Fashion Assistants who will
man the Outlet Centres, alongside sizeable investments
in information technology.