Nik-Nish Retail on expansion spree

NEW DELHI: Kolkata-based Nik-Nish Retail Ltd on Sunday said it plans to increase the number of its outlets to 65 from present 15 in the next 18 months.
    
"In the next 18 months we plan to increase the number of stores to 65," Nik-Nish Retail Vice-President Thomas Yasuyda said on the sidelines of Pure&Play Retail Summit here.
    
The retail chain would add 15 stores in the next six months to double the number of outlets.
    
"In 2009, the company again plans to more than double the the number of stores to 65 by opening 35 new stores," Yasuda said.
    
Nik-Nish is a joint venture between Hong Kong-based entrepreneur Thomas Yasuda and Kokata-based businessman Bharat Jain.
    
When asked about the investment Yesudsa said the average cost of opening up a store would be around Rs 1,500 per sq ft. with little variations.
    
He, however, declined to give exact amount the company would invest for expansion.
    
The firm would operate through two major formats, the large ones, with the area of 10,000 sq ft and above, and smaller one with an area of 2,000 sqft and less.
    
Nik-Nish has business in three verticals-- lifestyle, home decoration and fashion accessories.