Reid & Taylor, the S Kumars brand, is aiming high this year with huge expansion plans. It plans to have 150 stores by the end of the financial year and out of these 120 stores would be located in non-metros and would be run on franchise models.
The rest would be located in the six major cities and would be company-owned with an advertising budget of Rs 20 crore. At present the company has 26 stores in the country which offer ready-to-wear garments and even has plans to expand the already existing plant in Mysore with an investment close to Rs 90 crore spread over the next two years.
Currently, the company earns only 5 per cent revenue from exports and the rest 95 per cent is domestically earned income. Because of the expansions, the company is looking at earning 30 per cent of its annual revenue from exports to the US, Canada, Australia, the UK, among other markets.