With an eye on opening 25 more stores over the next five years in India, Malaysian kidswear brand Poney is looking at investing Rs 30 crore.
With an eye on opening 25 more stores over the next five years in India, Malaysian kidswear brand Poney is looking at investing Rs 30 crore. Poney is aiming a turnover of Rs 100 crore in five years. It has a master franchise agreement with Ajanta International Group in India.
Rajat Kapoor, Head, Ajanta International Group, states the company plans to set up 25 standalone stores and 100 shop-in-shops over five years. "We're looking at opening three more stores in the NCR (National Capital Region) by the end of this financial year and two more in Mumbai by the end of 2016. We plan on opening at least five stores each year," Kapoor adds.
Other than metro and tier-I cities, the kidswear brand also look forward to opening outlets in tier-II cities like Lucknow, Chandigarh, Ahmedabad, Ludhiana and Pune. The brand, which entered India last month with a store in Delhi, has a presence in 11 countries. Poney's International Business Unit Head, Muzaffar Syed, says, “It is difficult operating internationally. We have to have a good sense of the Indian market, firstly, and then we have to have the whole set up done over here.”