Manyavar to open 600 stores

Men’s wear brand Manyavar is set to come up with 600 more stores by 2016. The brand intends to open one flagship store in every Tier-I and II city while metros will have at least three to four stores. The brand presently has 22 outlets in Kolkata and 16 outlets in Delhi, out of which four are flagshop stores. While in Mumbai, it has 14 stores, including four flagship ones.

Manyavar has also spread its wings in foreign land with seven stores in Bangladesh, Sharjah and Dubai. The aim is to open more stores abroad. Merchandising tie ups with retail chains like Planet Fashion, Ethnicity, Central and Pantaloons. “There are about 7,000 SKUs in our new flagship store in Mumbai. We have a plan to take the count to 10,000. We want to introduce a premium range with a price tag of Rs five lakh in Mumbai and Delhi markets,” says Sushil Agarwal, Vice President of Manyavar.

Other than introducing premium clothing range, Manyavar looks at launching women’s ethnic wear in future. The company has been growing at 50 percent CAGR for the last five years. The brand expects a turnover of Rs 700 crore by 2016.