Connoisseur in women formal and casual ethnic wear, Indianink has carefully formulated an expansion plan for tapping a larger share of Indian market. Ajay Nihalani, CEO, Indianink talks about the industry and the opportunity galore this contemporary fashion brand has in store for entrepreneurs.
Share a word on the Indian ethnic wear industry.
Ethnic clothes have found a special place in women's wardrobe in the recent years and retailers are leaving no stone unturned to cash in the trend. According to a Technopak study, the unorganised segment which traditionally and still largely caters to the ethnic wear industry has demonstrated steady growth over the past years and is set to grow further by 8.4% over the next decade from the present Rs 61,679 crore.
What made you choose franchising?
Taking franchise route was a plan from the very beginning. Franchising is a profitable means of expansion, ensures good returns and gives a systematic approach and consistency towards the business layout and workings. Since our business is new, franchising gives an opportunity for faster business growth, helping expand operations with huge capital outlay.
What is the USP of your brand?
We offer a combination of ethnic and fusion wear. Quality being the prime value for the brand, each and every garment has been designed with utmost care and creativity, keeping in mind the need of today's women.
How many stores do you currently run?
Currently we have six stores which are franchisee-operated. We are planning to open four company owned stores.
What are your expansion plans?
We plan to expand in cities like Dehradun, Haryana, Bhubaneshwar, Cuttack, Pune, Jaipur and Ganganagar. In the year one we are planning on doing business of approximately 100 million and the year three we look at doing approximately 500 million.
Do you wish to grow your online presence as well?
We wish to expand our business both offline as well as online.
What are your plans for international expansion?
We are looking forward to tap the UAE market.
What sort of training and support do you provide to the franchisees?
We render thorough training and on-going support to the franchisees. We provide marketing assistance and advertisement support as well.
|600-700 sq. ft||Rs 15-18 lakh||15%||1.5 years|