Hasbro to add 10 more stores in South

Hasbro, a 35 crore menswear company, expects to add 10 more stores in south India during the current financial year on the heels of growing demand for readymades in the domestic market.

Addressing mediapersons, director of Hasbro, Hanif Sattar said that the company will be investing about Rs 3.5 crore in setting up these stores. The new stores will come up "" two each in Bangalore, Coimbatore, Chennai, Hyderabad and Kerala.

At present, Hasbro has 14 stores, of which 10 are company owned and the remaining is given on franchise. Hasbro has two manufacturing plants one in Chennai and the other in Bangalore.

Hanif Sattar said that the company was planning to ramp up its manufacturing capacity by another 30,000 pieces to its existing capacity of over 75,000 units annually.

Sattar also added that Hasbro is targetting a turnover of Rs 50 crore in 2005-06, a growth of 40 per cent over the last year. "We expect the revenue to come from its retail opertaions, multi-brand operations and exports," he said.

Hasbro is a 14-year old company with two brands, namely, Genesis, men's formal wear brand, and Basics, a casual wear brand. The price range of these two brands is from Rs 650 to Rs 1,300.