Archies to focus on own shops

Greeting cards and gifting articles company Archies has decided to shift away from the franchisee option and concentrate more on the own store route, executive director Vijayant Chhabra said in Pune on Saturday.

The company is banking heavily on the promise of the mall culture, and wants to set up outlets in 120 cities by 2008 by investing about Rs 40 crore.

The company will open 15 stores in 2006-07 for its newly launched Stupid Cupid fashion jewellery range.

Eight of these, comprising six in New Delhi and two in Mumbai, are operational, and the company wants to open three in Pune -the first of which was inaugurated on Saturday.