Benetton seeks retail space in Punjab

Benetton India, a 100 per cent subsidiary of Italian clothing giant Benetton, plans to open large format store in the region. With retail space developing in towns of Punjab and Haryana, Benetton will have its own stand-alone store, covering a maximum of 6,000 square feet.

The expansion would be not only north-centric but pan-India, said Benetton India Pvt Ltd Managing Director Gagan Singh.

Speaking to Business Standard in Chandigarh, Singh said: "In Punjab, as malls open and quality stores come in, we will be looking at several models and formats. They can be franchisee stores or exclusive company stores; it wholly depends on the quality of retail space."

Benetton is looking for a retail space of 1,500-6,000 square feet to cash in on the growing mall culture in the region. "The investment per square foot will depend on the layout, merchandise, etc," she said.

Singh said Benetton had a presence in the state for long and was looking to have stand-alone stores in Ludhiana and Amritsar. Benetton was upgrading the retail outlets in the region, she added.

"Our expansion in towns and cities is not dependent on the population but on fashion-conscious customers," Singh said.

The managing director was in town to launch the Benetton Spring Summer 2006 collection. "Our patterns and materials have been chosen widely and we will give our customers designs that have a unique look," said Singh.

Currently, 50 per cent of the production is taking place at the Gugaon unit, and some sourcing is taking place from Ludhiana, Delhi, south Indian cities, and Benetton International.

Terming the Chandigarh market to be a strong and developing one, Singh said the city was making good sales, coming next to Delhi and Gurgaon in the north market. Benetton India has are 56 exclusive stores in India.

Without disclosing the turnover, Singh said Benetton India saw a growth rate of 35 per cent in revenue in 2005.