Neeru’s

Eth­nic re­tailer Neeru’s jour­ney dates back to 90s when there were very few well-known brands avail­able in this space. Start­ing its jour­ney from Te­len­gana and carv­ing a niche in South In­dia, Neeru’s de­cided to go on a ex­pan­sion slew all across In­dia since

VM&RD - - Contents - Satarupa Chakraborty

To­day, we have many eth­nic wear re­tail­ers and brands in the mar­ket. How is Neeru’s dif­fer­ent from them?

Rather than feel­ing any com­pe­ti­tion, we feel happy that many eth­nic re­tail­ers and brands have en­tered the mar­ket. How­ever, our brand is dif­fer­ent as we are the one-stop-shop for all kind of eth­nic va­ri­eties for women and most im­por­tantly, in all bud­get ranges. It has been a brand to reckon with in Te­len­gana, so we de­cided to spread our wings to dif­fer­ent parts of the coun­try.

In terms of re­tail ex­pan­sion, how much im­por­tance you are giv­ing to metros mar­kets and the tier-II cities?

To both, ac­tu­ally. We have strong pres­ence in cities like Hyderabad and Ban­ga­lore. And that doesn’t mean that we will not add stores in these cities. We are soon open­ing two stores in Mumbai, one in Chen­nai and 4 in Del­hiNCR. We are ex­pand­ing fast through our EBOS in cities like Raipur, Kochi and Lu­know. We have re­cently opened in Raipur and you’ll be amazed to hear that the store is giv­ing me a sale of INR 2000/ square feet/ month. In fact, I’ll go the ex­tent of say­ing that tier-II

mar­kets are the most prof­itable mar­kets as the rentals are low but there’s a grow­ing pen­chant for fash­ion. We are also scout­ing for lo­ca­tions in in­ter­na­tional mar­kets like in US and Dubai.

As an eth­nic re­tailer, do malls or high street lo­ca­tions work best for you?

If you talk from the sales point of view, it re­ally de­pends. When I de­cided to en­ter Delhi mar­ket, I wanted our first store to share space with the best eth­nic re­tail­ers of the city, so I chose Karol Bagh. Yes, it’s very im­por­tant to be vis­i­ble in high street to at­tract enough walk-ins but mall stores al­ways ren­der the touch of pre­mium-ness. Our store at NOIDA Mall of In­dia is giv­ing us ex­ceed­ing sale within the rev­enue share model with the mall.

Please throw some light on your sales growth.

Last year, de­spite the hefty in­vest­ment plan for re­tail scal­ing, we grew about 20%. We are aim­ing at 30%-35% this year. With the up­com­ing GST, we hope to save a lot in rentals.

Avnish Ku­mar, Direc­tor, Neeru’s

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