How many stores do you have and what is your expansion time frame like?

In Southern and Western part of India, we are the leaders in the segment of luxury retailing. We do not fight for grabbing the unorganised segment. That is another reason why we did not expand so fast. We had a steady phase-by-phase expansion. Also, we never had any loans or investors. We expand by our own profit.

Are you planning to try new markets outside the existing ones?

Our key expansion areas are mainly in the metros. In metros like Kolkata and Delhi, we are expanding faster. Our priority is now majorly North India. We are eyeing new markets such as Delhi, NCR, Lucknow and Chandigarh. Expanding in West Bengal and Jharkhand is also in our list.

What is the typical store size and what are your retail formats?

Store sizes range from 600 sq ft to 3000 sq ft. We always prefer to be in the high street. Recently, we are also noticing the trends of setting up in residential areas. On the business front, we believe high street ROI is faster whereas in residential areas it takes 5 years to breakeven.

There are different store formats: Branded, Pioneer and Boutique stores. We have two boutique stores where the cost of the product starts from INR 8000 and goes to 10 lakhs. It is an out-and-out boutique which a customer experiences in Milan or Paris. We have 10 to 12 pioneer stores which are more than 80 years old. Branded stores are budget stores.

What role does design play in your stores?

For a retailer like us, it is important now. With a heritage of 143 years, customers expect us to have good ambiance. They expect a vintage look from us. We have maintained the same retail experience across the stores. For all the stores, generally, the look and feel remain the same for minimum five years. In the heritage stores, it is subjected to the feedback from the customers. Otherwise, in general, our designs are fixed and finalised by our core team.