Promart collaborates with Franchise India for 100 franchisees

By VJ Media Bureau | Vjmedia Works | 3 | April 10, 2013

As a part of this tie-up, Promart will open 25 franchisees every quarter and expects a growth of 15-20% y-o-y.

Promart Retail, a discount retail chain and value format brand joins hand with Franchise India, Asia's largest integrated franchise solution company to further broaden their footprint in India. As a part of this association, Franchise India will help Promart right from strategizing, getting franchisees to grow the brand and implementation to generate more visibility for Promart. Promart has planned to open 25 franchisees every quarter while targeting a growth of 15-20% year on year. The brand is presently eyeing on the Tier II-Tier VI cities, on the basis of its business strategy to further accelerate their presence in India.

Punit Agarwal, Promoter and CEO, Promart, stated, "We believe that the tie-up with Franchise India is going to further help establish the presence of the brand in the Indian market. With their proven expertise in strategizing and implementing retail solutions, we are sure to see rapid growth, scalability and profitability for the company in the coming months which we believe will take our brand to the next level.â€

To start a Promart franchisee a minimum investment of Rs 14 lakh will be required for a 700 sq ft area (stock and interiors) and an investment of approx Rs 30 lakh for a 1500 sq ft area.

"Franchise India has been consistently helping brands across various industries with the right insights to help them appropriately channelize their expansion across countries. We and Promart share the common vision of making all the prominent brands available under one roof,â€ said Gaurav Marya, Chairman, Franchise India.