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Mar 30, 2012, 07.42 PM IST
Discount retail chain Promart announces plans to open 100 exclusive stores by March 2013 and roll out stores under the franchisee model from tier 2 to tier-6 cities, reports CNBC-TV18
Speaking to the channel, Punit Agarwal, director, Promart Retail, said, “As mentioned earlier, we would be opening 100 stores. Currently, we have fifty franchisees. Our initial target was set at 150 crore as we had planned for 100 of our own stores. With the number of stores having touched 150, we have raised the target by another Rs 50 crore. So we've made it to 200 crores this year.” Agarwal also spoke about plans for the future. “We are getting into the stationery line. But it is still on the drawing board. I think we should be rolling out the stationery foray by the first week of July and this requires an initial investment of Rs 25 crore.” Also watch the accompanying video
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