Aiyer pointed out that the main focus of the company will be on opening new stores in tier-2 and tier-3 centers.
Dubai-based Landmark Group is planning to open 50 more Easybuy stores over the next two years in a franchise model, said Easybuy senior vice-president and business head Anand Aiyer. Easybuy is targeted at the burgeoning middle class and will sport merchandise ranging from Rs 69 to Rs 699.
He further added that they are planning 10 Easybuy stores and are looking at 50 more in the next two years. In the first year, they are planning to open stores in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. The brand have chosen south as they had test-marketed the concept in Karimnagar.
Aiyer pointed out that the main focus of the company will be on opening new stores in tier-2 and tier-3 centres. A typical Easybuy store will be spread over 5,000 to 6,000 sft and entail an investment of Rs 1 crore.
In its first year of operations, Easybuy has contributed revenues of over Rs 80 crore and is eyeing a target of Rs 180 crore this fiscal.
Meanwhile, Landmark Group executive director Vasanth Kumar pointed out that the concept of Easybuy stores has been developed exclusively for the Indian market. They have brought international retail brands like Max to India; Easybuy is a concept that we have created keeping in mind the needs of the Indian customers here. If this concept takes off, they might replicate this in other international markets as well.