Welspun Retail to strengthen presence in non-metro citiesFebruary 21st, 2008 - 3:52 pm ICT by admin
New Delhi, Feb 21 (IANS) Mumbai-based home furnishing retailer Welspun Retail Ltd Thursday said it was planning to increase its footprint in a big way in tier-II cities even as it targeted a turnover of Rs.10 billion ($250 million) by 2011-12. “We are going to be aggressively increasing our presence in the tier-II cities across India as there’s huge demand there and growth potential is increasing by the day,” Dipali Goenka, director of Welspun Retail Ltd, told reporters on the sidelines of a retail conference.
The retail meet is organised by KAS Technopak India Pvt Ltd, a service provider to retailers and suppliers.
Welspun Retail, which is part of the Welspun Group that exports premium home textiles to the domestic and retail stores in the US, is present in two retail formats - ‘Welhome’ for household products and ‘Spaces’ for premium home furnishing.
“We will be opening 600 Welhome stores from the current 200 and 60 Spaces stores by 2011 from 30 now. We are targeting a turnover of Rs.100 crore (Rs.1 billion) by this financial and Rs.1,000 crore (Rs.10 billion) by 2011,” Goenka said.
“We will also be evaluating inorganic growth in the country.”
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