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Welspun is foraying into hypermall segment with their "Welspun Home Club" a one stop shop for you to buy for your home. Ansuhman Singh ,chief operating officer of Welspun Retail ,said"There are no value stores in the home retail segment and Welspun Home Club is the first such initiative to be undertaken in India." The concept for Welspun Home Club is that "The more you buy , the more discounts you get." He added that the emphasis will be on services as there will be sn inhouse tailor who will stitch your furnishings for you. The end consumer will be the middle class house wife. Company plans to have 15 stores in 8 cities over next 8 months occupying a total retail space of 1,50,000 sq ft in the first phase. The first welspun home club store will come up in mumbai in the first week of october to be followed by thane and ahemdabad. Singh said "The home retail furnishing market is worth Rs 60,000 crore. But 99% of this market is unorganized. Fab India and Zeba do not have chain of stores but are in the space. Welspun Corporate expects to duble its current revenue of Rs 450 crore by 2007. To achieve the set target ,Welspun is doubling its capacity in terry towels, bed sheets and spindles. Singh said that the company plans to invest 5% to 10% in the retail venture that could be raised from outside and it is expecting projected revenues to touch Rs 150 crore. |
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| Posted : 9/27/2005 |
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