Provogue to set up 6 Megastores

Provogue has firmed up plans to open six Megastores in metropolises by the end of the year. The company will open the first of these "" a 7,000 sq ft outlet "" in Kolkata by August.

Nikhil Chaturvedi, managing director, Provogue, said, "Apart from Kolkata, the exclusive brand stores will be rolled out in Delhi and Bangalore, which will stock our entire product line."

Setting up of each of these stores will involve an estimated investment of Rs 1 crore. In addition to Megastores, the company plans to open by the end of the year another 100 stores, of which 25-30 would be in the metros with the rest coming up in the B-class cities.

Chaturvedi said Provogue's strategy of looking at smaller towns has worked well for it and the company would continue to look at small towns such as Agra, Raipur and Kolhapur as the response to its stores in those cities has been very good.

"If one is to look at the rent-earnings ratio parity, these stores are actually doing better than the metro outlets. Even in terms of absolute sales, these cities are very attractive," said Chaturvedi.

While these towns had the exposure to the brand, there was no easy access to it. Now, as the situation has changed, all these stores are doing extremely well for the company, he added.

Provogue has also decided to expand its range of accessories by introducing innerwear and personal care products for men later this year. The company has already introduced shoes through a tie-up with Delhi-based M&B Footwear.

In apparel, it is introducing denim and T-shirts this season, which will show up in its stores in a few weeks.

Chaturvedi ruled out the possibility of Provogue introducing any accessories as part of its women's range, with the focus currently being on establishing and consolidating the brand itself.