"The company plans 100 outlets by the end of the current financial year and to go public in the next 18 months," the company Managing Director Jay Gupta, said. He added that the retail chain of garments, footwears and accessories was started in 2004 that clocked in 85 per cent growth with a turnover of Rs 51 crore in 2006-07 and expect a turnover of Rs 100 cr this year. The Loot offers its customers a wide range of branded products with discounts from 25 per cent to 60 per cent around the year. |
The 3,000 sq ft Amritsar store is located in the heart of the city and is the very first store in Punjab. They immediately plan to launch a store in Jalandhar followed by Ludhiana; and eye to roll out at least 10 stores in Punjab.
Gupta told that their business model is based on creating brand awareness among masses. He added that they keep thin margins, work out on suitable locations to save on high rentals and bulk buying directly from the manufacturers makes their business venture viable.
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The Loot, besides the established brands, also merchandise in-house garment brands like Bus Stop, Eccentric and Road. These brands constitute 25 per cent of its total product portfolio.
"We got our in-house design team and manufacturing is outsourced to various players," he said.
He added that they commenced their operations from Mumbai as it was the most difficult market in terms of competition. Since we made a mark there, sky is the limit for us.
The LOOT currently operates 30 stores in cities like Mumbai, Delhi, Pune, Goa, Surat, Ahmedabad, Aurangabad, Navi-Mumbai, Mysore, Bangalore, Jabalpur, Raipur and Nashik.
The company is shortly opening stores in cities such as Bangalore (Bhanshankri and Rajajinagar), Ambala, Ludhiana, Patna, Kutch, Vapi, Ghaziabad, Faridbad, Bikaner, Nagpur, Jalgoan, Pune (Fatima Nagar, Satara Road, MG Road, Aund), Guwahati, and Mumbai (Lokhandwala, Santacruz, Bombay Central, Vasai and Kalyan) are on the anvil.
The store retails brands like Pepe Jeans, Puma, Reebok, Fila, CAT, ID, Red Tape, Marco Ricci, Nautica, Umbro, New Balance, Adidas, Nike, Spykar, Kappa, Bossini, Wrangler, Lee, Lee Cooper, Pepe Jeans, Rifle, Ragz jeans, Recap, SF jeans, Parx, Park Avenue, Van Huesen, Allen Solley, Arrow, Turtle, Cottons by Century, Thomas Scott, Blackberrys, Tuscan Verve, W, Sepia, Welspun, Lilliput, Giny & Jony, Disney, Ruff Kids, Lee Youth, Little Kangaroo and international brands like Banana Republic, GAP, Old Navy and Mercedes.
"We spend about Rs 75 per square feet carpet, while hiring space as our topline and bottomline, both are important to us. We also expect a downward revision in rentals in the next three to six months to facilitate our expansion".