After a lull, apparel brands now plan 'retail expansion'
24 November 2021, Mumbai:
Apparel brands are chalking out expansion plans of their brick and mortar businesses in the third quarter. Shoppers Stop plans to grow its private-label mix.
And some 20 department stores will be opened over the next six months and 20 beauty stores over the next two years. It plans to deepen its presence in smaller towns, with small-sized stores to improve efficiency.
Similarly, Indian Terrain’s sales bounced back to pre-pandemic numbers, and aggressive retail expansion will remain a key driver for the company’s growth.
Indian Terrain, which operates 200 stores across 150 cities, aims at expanding in Tier I and II markets where many customers still prefer offline shopping over online. Since March 2021, the company has expanded its footprint nationwide with 40 stores and looks to continue the momentum.
Aditya Birla Fashion and Retail (ABFRL) will continue its aggressive store expansion plans across segments, where ethnic wear and Pantaloons will see over 100 new stores annually.
Aditya Birla expects a strong and sustained recovery on the back of tailwinds from the festive season and witnessed a margin improvement on an improved share of retail and private labels, lower markdowns, and cost control measures.
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