Indian denim retailer Numero Uno is planning to open around 36 stores in the next three years in order to expand its presence across the country.
The expansion programme is aimed at expanding the company’s network in the southern and western parts of the country, according to the Press Trust of India (PTI).
As part of the plans, the retailer intends to invest Rs100m ($1.54m) towards store openings.
Numero Uno Clothing chief managing director Narinder Singh Dhingra was quoted by the news agency as saying: “We would be opening 12 stores a year for the next three years, mostly in south and west India considering less presence in those regions compared to north India.”
“For an average size store of 600ft², the investment comes to between Rs2.5 and Rs3.5m ($0.38m and 0.54m), which is what we are planning to do.”
Through the expansion, the company aims to achieve a revenue growth between 15% and 20%.
Established in 1987, the company expanded its offerings, covering shirts, t-shirts and footwear to increase its market share.
Numero Uno has also unveiled its plans to capture market share in the sportswear segment ‘athleisure’ over the years.
Furthermore, the company has plans to gain foothold in eastern India.
In northern India, the company has a network of 180 stores.