India’s leading chain of fashion discount stores Brand Factory, a Future Group concept, has decided to open around 250 stores in the coming five years across India. At least 100 of them will be added in next three years.
“Initially we planned to be 100 stores by 2020, but back on the response we received from our recently concluded ‘50% Anything & Everything’ sale last week, now we have revised our plan and targeting to be 200-250 stores by 2022. The immediate plan is to open 100 new stores by next 3 years, and we want to penetrate all the towns and cities in the country,” said Suresh Sadhwani, CEO, Brand Factory.
Brand Factory offers more than 200 Indian and international brands at 20-70 per cent discount, 365 days a year at its 50 stores in 22 cities in the country. Merchandise available at Brand Factory stores includes men’s formals, casuals, youth wear, women’s wear, sportswear, kids wear, footwear, accessories and more.
“We are typically away from the main market. We have our stand alone format which is not into malls. Because we are away from the main market that keeps our rental and other operational expenses low. Also, the products that we produce in bulks help us in margin. Additionally, there are brands those come and offer discount on their own cost. These aspects help us to sustain our model. Merchandise production, low rental and brand participation all three things put together we are in a profitable business model,” Sadhwani added.
It may be mentioned here that Brand Factory grabbed Rs. 90 crore business and 5x sales during its recently held 50% Anything & Everything sale event.