Nahar to open 100 outlets this fiscal

Planning to enter the women and kidswear segments

NEW DELHI: Nahar Industrial has chalked out an aggressive expansion in the retail sector that will see it opening around 100 stores by the end of this fiscal.

“We have 170 Cotton County stores at present and plan to take the number to 250 by March next year,” managing director of Nahar Industrial Kamal Oswal said.

The increase in number of stores would result in increase in revenues of the company from retail to Rs 100 crore this fiscal, he said.

“In 2007-08 the revenues will go up to Rs 250-300 crore and by 2010 it will touch Rs 1,000 crore,” he said. For growth the company has concentrated on smaller cities and towns like Kanpur, Lucknow, Ludhiana, Oswal said. By 2010 the company has targeted to open 1000 outlets.

The company is also planning to enter the women and kidswear segment.

While the company’s focus will remain on smaller cities, it is also planning stores in bigger cities where it would open outlets in malls. “We have already booked space in 60 malls and our target is to increase our presence to 300 malls,” Oswal said.

Nahar Industrial Enterprises has floated a wholly owned subsidiary Nahar

Retail Ltd for its foray into retailing.

The parent company is already involved in spinning, weaving, processing and garmenting and supplies to some of the biggest brands in the world like Marks and Spencer, GAP, Tommy Hilfiger and Armani.