.Garments brand Cantabil, which works 550 shops in 250 towns of the nation, is actually organizing to penetrate much deeper into rate II and also beyond through opening up 85 brand-new shops this budgetary, Deepak Bansal, supervisor, Cantabil said to ETRetail.The brand is additionally paying attention to extending its own shop size from 1,250 sq.ft to 1,600 sq.ft as much bigger shops are actually generating better yields." This financial year, our company are intending to commit Rs 20 crore to assist the expansion strategies and away from the 85 stores that our team are considering to open, twenty per-cent will definitely be by means of franchise business route and also the staying 80 per-cent stores will certainly be actually company-owned as well as company-operated," he explained.At present, 15 per cent of the stores of the company are in the shopping centers and also the remaining 85 per cent are on the higher roads, and the brand name considers to go on along with the very same ratio in the future as well." twenty percent of our establishments reside in metro as well as tier I metropolitan areas, 40 per cent in rate II cities, and the staying 40 per-cent in tier III and also beyond," he added.Last economic, the brand forayed right into new classifications like activewear and footwear. These brand-new categories supported Rs 2.6 crore in the direction of the FY 24 profits and this fiscal, the brand is expecting the category to grow additional and also assist Rs 10 crore." In FY 23-24, our experts opened 5 exclusive stores for activewear and footwear as well as included this as a new category to 60 of our existing household stores, and also this , our team are actually considering to add these categories to 30 more family members outlets and will not be opening special shops," he claimed." Other than this, today, our company possess 45 special shops paying attention to girls as well as children as well as this economic, our team are intending to incorporate 15 additional stores," he further added.In the previous economic, accessories contributed to 5 percent of the overall sales, and also this economic, the company is eyeing to take its contribution to 6 percent. The brand name, which registered 5 per-cent sales from online stations last fiscal, is considering to enhance it to 7.5 percent this fiscal." Our offline average ticket size remains at Rs 4,600 along with average selling price of Rs 1,100," he stated.The label, which was actually targeting to close last fiscal along with Rs 675 crore profits wound up closing it at Rs 620 crore, and also this economic, it is aiming for Rs 750 crore earnings.
Posted On Aug 29, 2024 at 01:27 PM IST.
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