Alok Retail to expand its network

A 100 percent subsidiary of Alok Industries, Alok Retail India, is all set for an expansion and is in talks with private equity firms to raise Rs 100-crore. The company is targeting to add 250-275 stores, mostly through the franchise route by this year end.

The company's retail chain, H&A, will expand its network by 250 stores by the end of this year by adding 25 properties every month. It presently has 120 stores running across the country. The company is also planning to make a foray into Kashmir as well as eastern states. By the next three years, Alok Retail India plans to open 1,000 stores as there is a huge demand for apparels in India.

H&A is expecting to garner a turnover of Rs 500-crore in the next three-years from its retail operations alone.