Ma­jor Brands plans to in­crease its on­line rev­enues over three years

Apparel - - Market Watch -

Premier in­ter­na­tional fash­ion ap­parel, ac­ces­sories and beauty brands re­tailer Ma­jor Brands is stepping up ex­pan­sion plans to open more stores and grow its on­line pres­ence. It has been in In­dia since 2001 with 180 stores and is now plan­ning to have over 500 stores in the next 3-3.5 years. Tushar Ved, Pres­i­dent, Ma­jor Brands, says the on­line rev­enue is ex­pected to grow from less than five per cent cur­rently to over 25-30 per cent of over­all rev­enue in this pe­riod. He fur­ther added the planned ex­pan­sion comes on the back of new malls be­ing opened by spe­cial­ist shop­ping cen­tre op­er­a­tors. Also, on­line re­tail mar­ket has ma­tured in the last seven years.

Shubrang­shu Pani, MD, Re­tail, JLL In­dia, says that over the last three years, re­tail mall devel­op­ment has con­sol­i­dated with a hand­ful of spe­cial­ist shop­ping cen­tre op­er­a­tors, who among them­selves had close to 10 prop­er­ties. These mall de­vel­op­ers have strong fi­nan­cial part­ners or funds back­ing them up and are now open­ing about 40-50 new prop­er­ties in the next five years.

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