Promart seeks aggressive expansion in India

Promart Retail India Private Limited- discounted retail chain and value format concept is looking for aggressive expansion in pan India via franchising.  After successfully opening company owned stores, Promart announced that the company has signed 50 franchisees today all across the country.

On signing 50 franchisees, Ashish Garg, Managing Director, Promart Retail said: “Given the improved standard of living and fuelling demand for purchasing power in the middle class segment, venturing into smaller towns is in line with our overall business strategy. We plan to launch 100 more outlets in the next year which we have identified as potential retail markets via the franchising route which makes a good business proposition for us. The franchisee would require an initial investment of Rs 10 lakh with an area of approx 750-1000 sq ft. We are looking to clock in a turnover of Rs 200 crore as a part of this model.”

The existing stores are already running successfully in Ahmedabad, Vadodara, Rajkot, Vapi, Aurangabad and Mumbai while now it has set foot in states like Maharashtra, Himachal, Jammu and Kashmir, Punjab, Haryana and Rajasthan via franchising route. The company is looking forward to associate itself and invite more franchisees across Tier II- Tier VI towns as a part of their next phase of business expansion.

Promart is a value format concept in lifestyle retailing targeting smaller towns across India who have limited access to fashion. There are more than 50 brands available at Promart stores with upto 60 per cent discount on apparel and accessories. It is a One-stop shop catering to the needs people of any age group.