Properties in India

Arvind Mills unveils retail plan with launch of Megamart

Friday, October 26, 2007

Arvind Mills today announced retail plan to reach sales turnover of a billion dollars by 2012.

“The retail space is buzzing and we think the time is perfect for us to announce our retail plans”, says Mr. Sanjay Lalbhai, Chairman and Managing Director Arvind Mills. Adding further Mr. Lalbhai, said, “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.”

“We pioneered the value retail space with ‘Megamart’. Megamart currently is a 70 Outlet strong network and is available 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 value stores”. He further adds, “We have already signed up prime properties in Chennai, Pune and Hyderabad for this expansion. These 3 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 has an aggressive expansion plans to sign-up several more properties in the coming months. Megamart plans to have up and running 25 to 30 such Megamart Outlet Centres in top 20 cities over the next 4 years.

The Outlet Centre concept operates with the objective of grouping of a large number of brand outlet stores at the same location. An Outlet store, offers their merchandise to consumers at reduced prices. 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 will bring in a great combination of international shopping experience at value prices along with ambiences at par with some of the best retail chains of the world.

To achieve this, Megamart 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. JHP are the designers behind Selfridges, ASDA and many of the other leading retail destinations across the world, including the retail space of the upcoming Heathrow Terminals.

To provide best service to the customers, Megamart is investing heavily on training the Fashion Assistants who will man the Outlet Centres. The company is also making sizeable investments to support these plans in information technology.

-MoneyControl

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