As per the company’s strategy, it will beef up its presence in the country by launching another 30 stores by March and will take the count to 50 by 2018.
Easybuy, an apparel retail format by Landmark Group, is targeting to open 50 stores across India by 2018. The company spill the beans while launching its 4,000 sq.ft. store at West Gate Mall in Bangaluru. The newly launched store is company’s third store in Karnataka and 14th in South India.
As per the company’s strategy, it will beef up its presence in the country by launching another 30 stores by March and will take the count to 50 by 2018. Easybuy is a family store for men, women and children’s apparel, footwear and accessories offering over 1,000 unique styles created by an in-house design team in the price range of Rs 69 to Rs 699.
Shedding light on company’s expansion policy, Anand Aiyer, Business Head, Easybuy said that the Indian apparel market is estimated at Rs 2,50,000 crore, of which the organised market is Rs 80,000 crore. While there are many brands catering to the Rs 25,000-crore super luxury segment and the Rs 60,000-crore upper middle class, value fast fashion segment; the middle class value fashion segment of Rs 1,60,000 crore is largely untapped, which Easybuy is addressing with trendy stylish clothes at aggressive price points.
The plan is to expand, keeping in mind the aspirations of ‘Navbharat’ customers who reside in non-metro and semi-urban India. The first Easybuy store was launched in the district headquarters of Karimnagar, Telangana in September 2014. Brand plans to open one Easybuy store in every district headquarters and every value catchment area in metros, adds Aiyer.
The brand works on franchisee model and all its 14 stores are 100 per cent franchisee-owned and run stores. Apart from facing a tough competition from regional brands, Easybuy also competes with national players such as FBB by Big Bazaar, Reliance Trends, Unlimited by Arvind and Zudio from Tata. Despite of severe competition, Aiyer is expecting to pump revenue of Rs 160 crore in FY17.