LEADS TO EX­PAN­SION IN IN­DIAN RE­TAIL SEC­TOR

Images Retail - - CON­TENTS - – By IM­AGES Re­tail Bu­reau

FRESH FUND­ING LEADS TO EX­PAN­SION IN IN­DIAN RE­TAIL SEC­TOR New e-com­merce poli­cies, part­ner­ships, in­vest­ments, fund­ing and ac­qui­si­tions made head­lines as the In­dian re­tail mar­ket con­tin­ued to grow at a steady pace

New e-com­merce poli­cies, part­ner­ships, in­vest­ments, fund­ing and ac­qui­si­tions made head­lines as the In­dian re­tail mar­ket con­tin­ued to grow at a steady pace. Here’s a look at some of the ma­jor ac­tiv­i­ties in the sec­tor in the last one month…

SPE­CIAL­ITY RESTAU­RANTS TO IN­VEST ₹40 CRORE, OPEN 8-12 NEW OUT­LETS

Spe­cial­ity Restau­rants Ltd, a lead­ing chain of fine and ca­sual din­ing in In­dia with brands like Main­land China, Si­gree, Machaan, Haka, Cafe Mez­zuna, and many oth­ers, is plan­ning to in­vest ₹40 crore in the next two years to open new restau­rants and con­sol­i­date ex­ist­ing ones, a com­pany of­fi­cial said.

“We will be in­vest­ing around ₹40 crore over the next two years to open new restau­rants as well as con­sol­i­dat­ing of ex­ist­ing restau­rants. We in­tend to open 8-12 new restau­rants in the next 18 months,” An­jan Chat­ter­jee, Founder and Manag­ing Direc­tor, Spe­cial­ity Restau­rants told re­porters.

The debt-free com­pany, which had cur­rently 125 restau­rants and con­fec­tioner­ies, plans to make this in­vest­ment from its in­ter­nal ac­cru­als, he said at the cel­e­bra­tions of 25 years of its jour­ney. “Apart from pres­ence across In­dia, we have one restau­rant in Colombo, two in Dhaka, two in Tan­za­nia, one in Doha, and we are open­ing one in Dubai

next month,” he said.

LEN­SKART TO IN­VEST US $5 MIL­LION IN 3 YEARS

On­line eye­wear firm Len­skart plans to in­vest US $5 mil­lion in the next three years at its man­u­fac­tur­ing fa­cil­ity for spec­ta­cles frames. Ac­cord­ing to a PTI re­port: The com­pany re­cently started the fa­cil­ity near Gu­ru­gram in Haryana that has a man­u­fac­tur­ing ca­pac­ity of 1 lakh frames a month with an in­vest­ment of US $1 mil­lion. It is look­ing at ramp­ing it up to 3 lakh frames in 3 years.

“We have set up with fa­cil­ity to be able to in­no­vate on de­sign and man­u­fac­ture high qual­ity spec­ta­cle frames at lower costs. We will in­vest US $5 mil­lion over the next three years and will be able to man­u­fac­ture 3 lakh frames a month” Peyush Bansal, Founder and CEO, Len­skart told PTI. Cur­rently, this fa­cil­ity will only meet half of our to­tal frames de­mand. Rest we will man­age through con­tract man­u­fac­tur­ing, he added. “Over the pe­riod, we ex­pect cost of these high qual­ity frames to come down by 30 per­cent,” he said. Bansal said spec­ta­cles ac­count for 80 per­cent of its to­tal turnover and the com­pany sells over 2 lakh eye glasses a month at present. The com­pany ex­pects ₹400 crore turnover from eye glasses in the cur­rent fis­cal year.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.