After the successful launch of large format value retail stores ‘Coupon’ in India, Prateek Apparels Pvt. Ltd. announced the launch of its 100th small format value retail store F SQUARE in Karnataka. The company also launched its 3rd Coupon store in Bangalore and the 9th in India. Sandalwood heartthrob and F SQUARE brand Ambassador Puneeth Rajkumar inaugurated the milestone store.
Prateek Apparels is one of the largest domestic players in apparel design, manufacturing and retail space. The company pioneered Coupon as a unique venture in the discounted retail space offering over 200 national and international brands at unsurpassed discounts in apparels, home decor, footwear and accessories for men, women and kids. Prateek has extended its reach into the fashion value retail segment with the launch of FSQUARE, targeted at Youth. FSQUARE is a chain of neighborhood fashion stores spread across 100 locations, offering the latest fashions at value prices. Career starters and college goers are the target customers across formal, casual and youth categories.
Commenting on milestone launch, Mr. Sanjay Dalmia, President, Prateek Lifestyle said, “The value retail industry is largely dominated by unorganized players, regional retailers and hypermarkets. Our experience in large format discount retail led us to understand that there exists a large class of consumers seeking the latest fashion at value prices and this segment is largely underserved in today’s scenario.”
The company is targeting sales of Rs.350 Cr in this fiscal and is expected to achieve Rs.600 Cr in the next year.
The newly launched Coupon store at K G Road is spread across 13000 sq feet, spread over 3 floors and housing over 200 brands. The 100th F SQUARE store is a 1000 sq ft space housed in Coupon, K G Road.
Mr. Dalmia further commented, “Youth in the age group of 20-35 do not have access to branded fashionable products at affordable prices in an experiential shopping space. As an integrated player from design to retail we can fill this need of fashion and value across all product categories. We aim at taking the number of F SQUARE stores to 300 in 3 years. We are slowly looking at states like Tamil Nadu, Andhra Pradesh, for further expansion following the cluster based approach.”
Prateek Apparels Pvt. Ltd. has been providing design, manufacturing and delivery solutions to several leading brands and retailers across the country. With a sound understanding of the fashion trends and Indian tastes, the company has managed to exploit opportunities in the growing retail space in India.
About Prateek:
Established in 1995, the brainchild of Mr. Pradeep Agarwal, Prateek is today one of the largest design to delivery solutions provider for the domestic apparel retail industry. Prateek is the flagship company under the umbrella of the Phulchand Group of Companies. It is a professionally managed company with CEOs responsible for each vertical – Prateek Apparels Retail, Prateek Apparels and Munch Design Workshop.
About Prateek Apparels Pvt. Ltd (Retail):
Prateek Apparels Pvt. Ltd (Retail), the retail arm of Prateek, is its latest venture in the burgeoning Indian retail market. The first store was launched in Bangalore (Karnataka) in June 2007. The Company plans to take the number of COUPON stores from 7 to 18 in this fiscal. The company plans aggressive expansion in Karnataka, Chhattisgarh and Andhra Pradesh for COUPON stores. The company also plans to launch FSQUARE stores across Tamil Nadu and Andhra Pradesh in the next two years
