M&B Footwear, footwear retail chain, will expand its retail presence via the franchise route in metros, mini metros as well as smaller cities and towns.
Some of the outlets will be operational before the end of the first quarter of the approaching financial year 2010-11. Most of the franchised stores will be in North, notably Punjab and adjoining belt, and East in the first phase, according to a report published in IndiaRetailing.
"The franchisee route is being perceived as futuristic as it would ensure expansion plan. Our distinctive footwear brand portfolio, consumer insights and preferences and importantly, revenue and profit imperatives for the franchisees will secure a win-win scenario for both," quoted Vikas Bagga, VP, marketing and corporate affairs, M&B Footwear Pvt Ltd in the report.
"The endeavour is to set up moderate to mid-sized Walk-in M&B stores, spread over 500-1,000 sq ft of carpet area, in premium malls and high street locations. Importantly, the property lease for nine years would have to be directly secured by the franchisee else the franchisee could offer and operate out of their wholly-owned premises," Bagga added.
Within the approaching new fiscal, M&B plans to set up 15-20 Walk-in M&B outlets. The franchisee will have to invest close to Rs 10-15 lakh on fixtures and fittings and Rs 20-25 lakh in stock inventory, the report added.
Currently, it has 41 exclusive concept stores, located in premium malls and high streets, 97 shop-in-shop with large format stores such as Westside, Pantaloons, Shoppers Stop and Central and 62 factory direct showrooms in India.
Source: Franchise-Plus
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