 "Middle East fashion retail major Splash to add 35 stores in India over 4 years")
The company also said that it is aiming to increase its turnover, in India, to Rs 500 crore.
Kalyan Kumar, Chief Operating Officer, Splash India said that currently the company has 15 stores in India and it will take it to 50 in the next 3-4 years. He was in Chennai to inaugurate company's 15th store in the country and second in Chennai.
Typically the company's stores would spread over in 7,000-7,500 sq.ft and all are company owned. Queried whether the company would look at franchisee model, he said "at present we don't in future we may explore". The company which currently operates in around 14 countries, adopted franchisee routes in Pakistan, Sri Lanka and South Africa.
While Kumar refused to comment on investment plans, analysts said that typically to set up such stores it would cost around Rs 3.5-4 crore per sq.ft.
"We have been a metro brand so far, through this expansion we will now go to Tier-II," said Kumar, adding that the company would also look at more in North and Western parts of the country.
"Today, in India of the total sales, 80 per cent comes from company's brand and the balance from other brands.Splash India has set a target to close the current fiscal with a turnover of around Rs 100 crore as compared to Rs 55 crore, a year ago. When we reach the 50 stores number our turn over would be around Rs 500 crore," said Kumar.
Of the new stores, around 90 per cent would be mono-stores, which would sell only Splash brands. The expansion comes on the backdrop of company's plan to introduce its Active wear, plus size of men and women.