The UK’s largest home textile retailer, Rosebys, is planning to open 650 home décor stores across India in coming five years. The company already operates over 300 home furnishing stores across the United Kingdom. The company is rolling out plan for overseas operations in the European and Asian countries, which include Poland, Romania and Vietnam in a few months. With this expansion, each of the Indian state is going to have 30 outlets on average. The company will follow franchise model to build up its network, reveals Aloke Banerjee, Chief Executive Officer, Rosebys Interiors India. In the initial phase, Rosebys will make foray in the markets of Punjab and West Bengal followed by Gujarat, Andhra Pradesh and Karnataka in the next four months. For the expansion drive, the company has allocated a budget of Rs.150 crore in India and is expecting to achieve a turnover of Rs.350 crore. For the franchised outlet having 800 – 1200 sq. ft. of area, the investment requirement is Rs.20-25 lakh. The preferred location to set up these stores are primary and secondary markets in a city and shopping malls. The prospective franchisee should be in possession of a store with strong financial background, and should be someone who can understand and appreciate the retailing of premium products. Exposure to a similar business or retailing of similarly positioned brands would be an added advantage.
