Ritu Wears to diversify to home furnishings, expand to smaller citiesTuesday, 02 February 2010
Next month, Ritu Wears will open its first store in Indore?s C21 mall. Other stores to come up in Central India are one each in Bhopal and Raipur. ?A big portion of these stores will be focusing on homes furnishings. We are planning such stores in cities around Delhi, Ludhiana, Jalandhar and Patiala as well,? explains Sahni. The new stores will be around 15,000 to 20,000 sq. ft. Much of the merchandise will be sourced from abroad. ?These will be fully company-managed stores. As business develops we will also look at franchisees.? Most of these will open their doors by the coming festival season. ?We have a department store concept of 40,000 to 50,000 sq. ft. area. Maybe, these new stores will be a part of Ritu Wear family stores,? explains Sahni. At present Ritu Wears has 10 departmental stores across India. The biggest is in Delhi.
Meanwhile, the brand is also in talks with Tommy Hilfiger and Esprit for setting up shop-in-shops. ?Other brands in Ritu Wears that we are looking at are Leros and s.Oliver. Whichever international brands have come in the last three years, we are identifying the right stores for these brands,? Sahni says.
Ritu Wears has two private labels in ethnic wear. Kajli, their mass premium label and Ziana the premium label. In men?s wear they have a brand called Papillon. They also have a unisex label called Engine. It has a kids? version called Engine Kids. Then there is a kids? brand called 826. Ritu Wears is also planning to increase its private label category. ?We are building our private label category and looking at 35 to 40 per cent increase in business in the next three years,? says Sahni.
The brand is planning to launch home and footwear as an independent vertical in the next five years. Within the next year, they are also looking at starting an exclusive kids? station store for children up to 14 years. ?The plan is ready and we have identified the properties.?
Meanwhile, they are testing ?RW Youth? a store only for young people in Delhi. The concept is a funky store housing casual wear brands for youth. ?It will only have branded fashion products. Some we will be developing, and the rest we will be launching with our channel partners,? Sahni says.
The company which is closing the financial year at Rs 165 crores is looking at 15 per cent growth from its apparel stores.