retail group Primus Retail has acquired the Weekender
youth clothing brand in a from its owner, Jagadish Hinduja,
who also owns Gokaldas Images, in a transaction valued
at approximately Rs95 crore.
has a licensee arrangement with Disney and Warner Brothers
has more than 50 stores with an annual business of Rs45
acquisition of Weekender enhances the product portfolio
of Primus, which operates exclusive stores and factory
outlets for Adidas and Nike. In addition it also retails
MTV gear to around 3,000 retail points in the country.
Balaji Bhat, CEO, Primus Retail, said the acquisition
would expand Primus'' retail network and portfolio of brands,
allowing it to consolidate its position in the apparel
and small format retail business.
says it will renovate the existing weekender stores and
expand it the next 12 months. Primus is believed to have
outlined an aggressive expansion strategy for Weekender
that includes100 Weekender outlets over the next one year
and take make the brand available in its factory outlets
and around 500 small stores the
said that Primus wanted to grow the brand more than 100
per cent over the next 18 month.
currently has more than 150 retail stores across 40 cities.