Chhabra 555 to open 10 new outlets in 2011-12April 14th, 2011 - 6:24 pm ICT by IANS
New Delhi, April 14 (IANS) Ethnic apparel retailer Chhabra 555 plans to open 10 new outlets during the current financial year in different parts of India and aims to attain 10 percent share in this segment in key markets of the country by 2015, the company’s top official said.
“We have an aggressive expansion plan. We opened 12 stores last year and aim to open 10 new outlets during the current financial year,” the company’s managing director Jagdeep Chhabra told IANS.
Chhabra 555, which started dealership model in ethnic retail segment in 2005, currently owns 45 outlets across the country.
“We are the only organised retailer in ethnic wear segment in India. We started the experiment over five years back and it is working very well,” Chhabra said Wednesday.
He said the retail chain has made a strong presence across the country and targeted to retain its leadership position in the coming years.
“Our aim is to attain 10 percent market share in all key markets by 2015 by leveraging established supplier base, strong distribution network and effective accounting mechanisms,” he said.
Chhabra 555 retails ethnic wear products, especially for women. It’s key products include bridal wear, lehengas, suit dupatta and sarees.
On latest trend in women ethnic wear, Chhabra said: “Yellow colour and apparel made of cotton fabrics are the most in demand this season. Last season, chiffon fabric was in demand.”
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Tags: aggressive expansion, aim, apparel retailer, april 14, cotton fabrics, distribution network, dupatta, ethnic apparel, expansion plan, fabric, key products, leadership position, managing director, market share, mechanisms, New Delhi, retail chain, retail segment, sarees, yellow colour