Enthused by the success of its private labels in the apparel segment, Reliance Trends Ltd, the apparel, luggage and accessories speciality format of Reliance Retail is working on a couple of private brands which it hopes to introduce within a year.
The share of private brands to the overall turnover of Reliance Trends stood at 42 per cent when the retailer started its operations. The share has subsequently grown to 50 per cent of its total sales and is expected to reach 55 per cent in the next two years.
“There are one or two brands in the apparel segment which we are working on and we hope to introduce them in a year or so. Our private brands are the ones that bring us affordability and also drive sales. We started on a very strong wicket with respect to private labels that contributed 42 per cent to our overall sales in the beginning. Their share has then grown to 50 per cent and we expect it to grow further to 55 per cent within 24 months,” Arun Sirdeshmukh, chief executive of Reliance Trends told Business Standard.
The outlets of Reliance Trends currently houses around 100 brands which include 16 private brands.
Some of our brands like Performax, Network, DNMX and Teamspirit have become quite a rage with our customers, he said.
The apparel segment is the biggest grosser accounting for 90 per cent of total sales of Reliance Trends.
Reliance Trends is also looking to expand its national footprint, focusing on accessibility and affordability.
“We have 57 stores at present and in the next two weeks, our store count will cross 60, making us the largest speciality apparel chain in the country. We also expect to reach the 100-store milestone by the end of this fiscal,” said Sirdeshmukh.
The company rolled out its store in the city spread over 35,000 sq ft, its first in Orissa and fifth in eastern India. It will add five more stores in the eastern region by December-end in locations like Kolkata, Guwahati, Asansol, Shillong and Cuttack.
Reliance Trends is also hoping to double its turnover this fiscal as against Rs 330 crore recorded in 2010-11.
