- Online sales of Wills Lifestyle products witnessing 30-40 per cent growth and would fetch sales equal to its standalone stores
- Company eyeing 10% growth for October-December quarter over corresponding previous
- Company managed 30 per cent reduction in rentals in the last one year.
- Earlier, rentals used to make up 20-22 per cent of its operating costs. Now, rentals make up 15 per cent of costs
- Plans to set up 'concept stores' of 6,000 sq ft or more, to accommodate all premium products, lounge area, and other offerings.
- To set up close to 10 Wills Lifestyle stores within ITC hotels, targeting the high-end travellers. As of now, Wills has one boutique store inside ITC Maurya, New Delhi.
ITC’s retailing arm Wills Lifestyle is looking at additional revenue earning options, including foraying into e-commerce. The company is once again on expansion mode and is eyeing to tap high-end travellers at ITC hotel properties for more ‘boutique stores’.
Already Wills Lifestyle sells products through 10 online e-commerce portals.
Atul Chand, divisional chief executive of Wills Lifestyle, said, “We are planning to set up our own e-commerce portal as we are looking at additional sales channels,” Chand added.
“Online sales of our products are witnessing a 30-40 per cent growth. Now online sales for us is as large as any of our standalone store would fetch us,” reasoned Chand.
Indian e-commerce market is valued at Rs 9,210 crore, growing at 30 per cent, while the business-to-consumer (BtoC) non-travel market is valued at Rs 2,210 crore, growing at 40 per cent. A recent study on the distribution of the global online population by 2012 noted that India will contribute 6 per cent or 109 million users out of the 812 million, in all of Asia. This effectively means that 45 per cent of all online users will be from Asia.
Wills Lifestyle is also back in expansion mode, after shutting stores and renegotiating rentals at key properties last year.
“We had planned 100 stores by 2010-11 but because of the slowdown a lot of shopping malls, where our stores would have been located, got delayed. However, things are looking up now and we are expanding once again,” said Chand.
Currently, the company has 50 stores in 30 cities.
“We have been able to get around 30 per cent reduction in rentals in the last one year. Earlier, rentals used to make up 20-22 per cent of our operating costs. Now, rentals make up 15 per cent of our operating costs,” Chand said.
While Wills Lifestyle’s growth flatened during the last few quarters, it has seen 10 per cent growth since September this year.
Among other plans, the company intends to set up a few premium ‘concept stores’ in high-street locations in metropolitan cities. While Wills Lifestyle’s standalone stores are about 2,500 sq ft, the concept stores would be 6,000 sq ft or more, to accommodate more premium products, lounge area, and other offerings.
The company is also looking at setting up close to 10 Wills Lifestyle stores within ITC hotels, targeting the high-end travellers. As of now, Wills has one boutique store inside ITC Maurya, New Delhi.
