Telegraph India report: Apparel retailers plan store expansion amid 3rd COVID-19 wave
04 January 2022, Mumbai:
Even as India is being hit by the third COVID-19 wave, apparel retailers are planning to add more stores across the country. A report by Telegraph India states large players across the country are ramping up their store footprint to make up for the setback in-store additions earlier this fiscal.
Their decision to expand was taken after an encouraging second quarter where they recovered 75-90 per cent of sales compared to pre-COVID levels. Large retailers have resumed their aggressive plans to add nearly 15–20 per cent to the store footprint, compensating for the slow additions in the recent past.
Trent plans to add 75–80 Zudio stores s and 35–40 Westside stores in the current fiscal, other players such as Aditya Birla Fashion and Retail Ltd (ABFRL), V-Mart, and Shoppers Stop are also expected to have 15–20 per cent growth in-store footprint.
Reliance Retail will also continue with the rapid rollout of stores apart from other initiatives to restore pre-COVID growth momentum.
The country’s largest organized retailer opened 813 stores in the second quarter, On the other hand, Aditya Birla Fashion which has a network of 3,264 stores and around 26,841 multi-brand outlets, added more stores under the Lifestyle and Pantaloons brands.
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