Cantabil plans to open 400 outlets pan India by 2020
By Retail4Growth Team | December 16, 2019
The company is also planning to pump in 25 crore for the next phase of expansion.
Apparel brand Cantabil Retail India on Monday announced that it has charted its growth trajectory for the year 2020. Projecting an upward movement, the company is planning to expand its retail presence with 400 outlets by 2020. Currently, Cantabil has 290 stores and is present in 16 states across India.
Currently, Cantabil has 80 per cent company-owned outlets and 20 per cent is owned by franchisee partners. For the next phase of development, the company is planning to invest approx. Rs 25 crore in Tier II and Tier III markets.
Talking at length about the expansion plan, Deepak Bansal, Director, Cantabil Retail India said, “The year 2019 has been a positive year for us and we are very hopeful to continue with the same growth momentum in the coming year. There is a significant increase in awareness about the fashion trend amongst the people in smaller towns and cities, and hence we see immense potential in Tier II and Tier III markets for our expansion. We are looking at offering the best of fashion and quality, and our target states are Maharashtra, Gujrat, Rajasthan, Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand, West Bengal and part of North East.” According to the company, the brand clocked a revenue of Rs 289 crore in the financial year 2018-19, and through this growth trajectory, the brand projects a 30 per cent growth for the next fiscal year.