‘We are planning 300 stores by 2020’

What is your current retail presence and what are your expansion plans?

We have about 144 stores in India. We are planning to geographically spread across the country. We are aspiring to grow about 300 stores by 2020. Our plan is to open at least 40 stores next year. Each store needs an investment of Rs 60-70 lakh. We will be spending an amount of Rs 80-100 crore for 300 stores, which will be spread over 3000 sq. ft. We also sell through 5000 MBOs.

Will the future stores be company-owned or franchisee-run?

At present, we only have three company-owned stores out of 144. Of these, 139 stores are franchisee-run and two are COFO stores. The upcoming 156 stores will be company-owned because we feel that’s the only way to replicate our retail identity, and on the other hand, it will provide an experience to the consumers.

We have a stronghold in south and west India, but now we have started focusing in the north region.

What are your e-commerce plans?

We have a plan to launch our own e-commerce portal, but not immediately. We have an omnichannel strategy, but we are progressing one thing at a time. We want to first set up our footprints with good infrastructure so that we can support our future online business and it won’t not be the discounted ones.

Who are your target customers?

Our target audiences include 20-40 year-old men and women, who are self-employed businessmen, professionals and students, too. The price range of our products starts from Rs 650 to 10,000.

Do you plan to expand your footprints in the overseas market?

We already exporting small quantity of linen fabrics and till now export is not our priority. We have two stores overseas, one in Dubai and one in Muscat, and are planning to take our identity of linen fabric and apparels, especially in the Middle East market. Hence, in a year or two, we will be opening two to three stores in the region.

What is your current turnover?

The Jayashree Textile full business turnover is Rs 1500 crore and we expect 8-10 per cent growth. All our stores are profitable. The EBOs contribute downwards of Rs 130 crore to our overall retail revenue.

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