Major Brands India Looks To Double Store Count In Five Years
Major Brands India Pvt Ltd., which franchises brands like Charles and Keith, Promod and Aldo in India, is looking to double its store count over the next five years to 500 stores.
Currently, the franchiser has over 220 stores across its brands and is betting heavily in north India—it’s the biggest market, according to Tushar Ved, president of Major Brands.
The company is also looking to aggressively expand in tier-2 cities. It plans to open 50 stores over the next five years for Bath and Body Works, the personal care brand which it brought to the country six months ago, with focus on the metros.
The company said that it reported a revenue of Rs 418.93 crore and loss of 34.86 crore in FY17. It expects to break even this year as it’s profitable at the operating level. “We’re looking at a very different strategy and expect revenues to grow three times over the next three years,” Ved said.
The company plans to launch its e-commerce platform next year for each individual brand.