Peter England to add 100 stores this fiscal; targets 20% volume growth
No Comments Sub Category:Realty News Posted On: Aug 13, 2014
In a recent announcement, the well-known Peter England menswear brand said that it has efforts underway to launch 100 more exclusive stores during this fiscal year. Peter England is the biggest menswear brand in semi- premium category. The company sells 10 million garments every year — a figure which is chiefly achieved though its sales from existing stores, mostly in smaller towns.
The planned launch of the new stores will help Peter England fuel the targeted 20 percent growth in volume in the current fiscal.
Pointing out that the last fiscal performance reported by Peter England was “quite robust,” the company's Chief Operating Officer Kedar Apshankar told PTI in Panaji that Peter England witnessed a nearly 25 percent growth in the last fiscal.
Noting that the growth reported by Peter England conveniently surpassed market growth during the last fiscal, Apshankar said that, as a result of the substantial growth, the brand managed to “cross the Rs 1,000-crore turnover mark for the first time.”
Apshankar asserted that the Peter England brand will evidently be able to record a growth of at least 20 percent over the past fiscal; and said: "We added close to 75 exclusive stores last fiscal, taking out total outlets to 650, and by the end of this financial year we should have at least 750 stores."
Source – The Economic Times
