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Retail 2014-02-06

India’s franchise industry is poised for immense growth’

By Sub-Editor
India’s franchise industry is poised for immense growth’

EVOK, a brand famous for offering luxury home design solutions for Indian customers is seeking business partners pan-India. In an interaction with Rita G Chauhan, Ajay Seth, COO, EVOK shares brand’s expansion plans and strategy followed to appeal more customers.

How was the idea of ‘Evok’ conceptualised?  How has been the journey so far?

EVOK was introduced by Hindware Home Retail (Pvt.) Ltd (HHRPL), a premier manufacturer of bath wares in the year 2008. The core vision behind the conceptualisation of this brand was to be the first choice of customers who are aspiring for value and home interior solutions and office spaces. We started six years ago and today we have 17 EVOK stores pan India. It continues to grow with several retail outlets in the pipeline. We have over 20,000+ world class contemporary products in solid wood furniture, home décor and accessories, soft furnishings, wall fashion, modular kitchens, bath ware, decorative lightings and floorings etc for designing homes and offices.

What inspired you to adopt the franchise route for expansion of your retail network?

India’s franchise industry is poised for immense growth in the next five years and retail will be one of the key sectors in its progress. In 2013, we introduced franchise model specifically for modular kitchens to capture the tier I and tier II cities. We have opened franchise options for its modular kitchen, modular wardrobe and entertainment unit segment.

How many total stores do you have in India and in which cities? How many of these are franchised and company owned?

We have been operating 17 stores in northern India.  Currently we have 15 home fashion mega stores and two super specialty stores.

What are your expansions plans? Where do you see your brand in the next five years?

We are planning to expand our modular kitchen and wardrobe franchise model in tier I and II cities. This expansion plan will be done in two phases. In the first phase, focus will be on Agra, Meerut, Jalandhar, Bhopal and Patna. In phase II, we will look at rest of India. Although the immediate plans are to open 10-12 new stores under franchise owned franchise operated (FOFO) model and another 4-5 mega stores under COCO model by the end of this year.

Franchise facts:

Area Investment RoI Breakeven
800-1000 sq ft Rs 15-20 lakh - -
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