LEADS TO EXPANSION IN INDIAN RETAIL SECTOR
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.