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Reid & Taylor, the Rs 260 crore brand from S.Kumars Nationwide Ltd, is bullish on retail expansion on high streets against mall presence to ensure higher visibility and greater sales margin for the company.
The company is aiming to set up 80 per cent of stores on high street and rest inside shopping malls, the reason being that shopping malls are a new concept in India and largely dependent on impulse-purchase.
Reid & Taylor aims to open a total of 21 stores by April this year and 341 stores by 20092010. Each store would have an area of 1,700 sq.ft on an average and would require an investment of Rs 30 lakh.
Presently, Reid & Taylor has 34 stores across the country that offers ready-to-wear garments, such as formal blazers, jackets, trousers, shirts, ties and accessories. Of these 18 stores are running on franchising model and rest on company-owned-managed.
The company is also planning to open outlets in the smaller towns of Gujarat, Punjab and Maharashtra that would run on franchise model. The company is also looking at bringing to India 3 to 4 more international brands by April this year either in the master franchisee format or by obtaining licenses, besides rolling out luxury international brands Escada and Dunhill in March this year