Reliance Trends, the apparels and accessories format of Reliance Retail, is aiming to double its revenue in the current financial year.
“We have been seeing a 2-fold growth in revenues for the last three consecutive years. We expect the same growth this year, over the Rs 330 crore turnover recorded last year,” Reliance Trends chief executive Arun Sirdeshmukh said at the inauguration of its 50th store in the country and fourth at here.
Currently, it houses over 100 brands and owns 16 in-house brands. Around 50 per cent of its revenues comes from in-house brands (private label brands).
“Our private labels are doing extremely well, despite the market condition not been good. We expect the ratio between private label and external brands to be at 55:45 in the coming period, from the current 50:50,” he added.
In the last 50 months, Reliance Trends had opened 50 stores in 37 cities across 15 states, and has plans to take this number to 100 by this year end. It will open three stores this week, he added.
It has stores at Gurgaon, Ghaziabad, Jalandhar, Kochi, Nashik, Indore, Vishakhapatnam, Guntur, Thane, Vijayawada, Baroda, Mangalore, Jaipur, Ranchi, Nagpur, Mysore, Lucknow, and the recently opened store at Ujjain
The company has plans to open stores in Tier III and Tier IV cities. Currently, its presence in non-metro: metro cities is 60:40. “We expect the non-metro presence to grow to 65. We have aggressive roll-out plans, which will help us in becoming the number one apparel and lifestyle retail chain in the country,” he added.
The 20,000 sft 50th store offers more than 100 Indian and international brands. “Karnataka and AP are our focused states, and we aim to have 10 stores in each place in few months,” he said.
Source : Business Standard
