DAKS plans to set up exclusive store in Hyd

UK-based apparel and accessories brand DAKS, that launched its range of footwear at The Loft "� the footwear store, is planning to set up its exclusive store in Hyderabad within a few months.

DAKS footwear is available at a price of between Rs 2,500 and Rs 5,000. DAKS, promoted in India by the Forbes Group, has its presence in cities like Mumbai, Bangalore, Delhi, Kolkata, Jaipur and Lucknow through exclusively designed boutiques and shopping malls.

Addressing a press conference to announce the launch of DAKS footwear at The Loft, Nishad Vasudeo, manager (brands and retail), Forbes Gokak Limited, said that within the next four-five months, DAKS clothing will also be available in Hyderabad.

"We have not finalised the location for the store. We are still contemplating on whether to go by the franchisee model or to set up our own store," he added.

Vasudeo said that the investment in Hyderabad for this purpose would depend on the size of the store being set up. DAKS' stores in India range between a size of 500 sq ft and 2,500 sq ft.

Incidentally, a second store of The Loft is also being planned in Secunderabad.

"While our store in Hyderabad is doing quite well, we feel that we need to extend our services to Secunderabad as well," Susil Dungarwal, customer care executive and chief executive officer, The Loft, said, adding that they are scouting for property in Secunderabad.

By 2007, The Loft plans to set up 10 stores across India at an investment of around Rs 50 crore. At present, two stores have been set up in Hyderabad and Mumbai. The third one is coming up in Pune in July.

In Bangalore, a property has already been signed up for this purpose and the company is scouting for land in Delhi and South Mumbai.

The company achieved a turnover of Rs 25 crore in 2004-05 and is targeting to cross the Rs 40-crore mark in the current financial year.