According to company sources, the brand will be taken abroad after its first phase roll out in the country. "We have a definite plan to export the brand to many countries. But this will happen after we establish a sizeable presence in the country," sources told Business Standard.
Peter England Fashions and Retail today launched its second Peter England family store, under the brand name, People, in Bangalore. The People brand is targeted at adults, youth, kids and babies through apparel and accessories.
The company, which opened its first outlet in Mumbai last week, is planning to open 10 stores for an investment of Rs 20 crore excluding the merchandise and targetting a revenue of Rs 50-70 crore during the first year.
Announcing this at a press conference, here today, Vikram Rao, business director, textiles & apparel, Aditya Birla Group said the company is looking at opening around 80-100 outlets across tier-I and tier-II cities in India over the next five years at a combined investment of Rs 400 crore. The company is targetting a revenue in excess of Rs 1,300 crore over the next five years, he said.
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After Mumbai and Bangalore, Peter England Fashions and Retail will be opening stores in Hyderabad, Delhi and Chennai by end of June. Each store will be spread over 12,000 sq ft to 15,000 sq ft.
"Our vision is to make Peter England People the favourite family brand and build a world class retail organisation. In the process we will cater to the mass, premium and super-premium/ luxury segments," Rao said.