Ethnic World to set up 1,000 outlets over next 3 years


New Delhi, Cashing in on the retail boom, readymade garment company Ethnic World Retail Ltd plans to open 1,000 outlets across the country in the next three years.

The Delhi-based firm runs 80 stores in various cities at present and wants to open 500 outlets by 2008 and 1,000 by 2010, Ethnic World Managing Director Pramod Nagpal told reporters.

As it sets up more outlets to meet the rising demand, the company is also expecting a surge in revenues to Rs 111 crore this financial year compared to Rs 65 crore last year.

Nagpal said after consolidating its presence in north India, the company is now foraying into the southern region.

"We are going to open first retail store in Banjara Hills area in Hyderabad in the next 20-30 days," he said, adding 4-5 more stores would be set up in the city later.

Going forward, the company would also open outlets in other southern cities like Tirupati, Chennai and Vijayawada. In western India, it will open stores in Jaipur and Jodhpur soon.

He, however, did not give any investment details.

Ethnic World makes the entire range of men's casual wear, including denims, cotton trousers, shirts and T-shirts as well as formal trousers and shirts. Besides, it makes traditional outfits like Jodhpuris, Achkans, kurtas and pyjamas as well.

The company has been the official garment supplier of Indian Olympic Association in many events such as Commonwealth Games and Asian Games. It exports products to many countries such as the US, UK, Australia and the Middle East regions.

Nagpal said export sales contribute 20 per cent of the company's revenues.

Source: Chennai Online