- Meenakshi Kumar |
Easybuy aims to have 50 stores by year end and 100 stores by 2020. At the moment, one store is being opened every 15 days. Easybuy, which opened in 2014, is the apparel value retail format from of the Landmark Group. It offers men’s wear, women’s wear, kids’ wear, footwear and accessories.
Right now there are 20 stores spread over Telangana, Andhra Pradesh and Tamil Nadu and the plan is to go to Kerala. All Easybuy stores are franchisees and spread over 5,000 to 7,000 square feet.
The retailer sees potential in Tier II and III markets, dominated by regional brands, while fashion and retail brands are concentrated in metros. The aim is to have a presence in all district headquarters in the country and reach a turnover of Rs 600 crores by 2020.
Value buying is the fastest growing retail format now and for Easybuy same stores sales are surging more than 30 per cent year-on-year. The Indian apparel market is estimated to be around Rs 2.5 lakh crores. Out of this, the organised market is pegged at Rs 80,000 crores. Brands are present mostly in the premium segment, which has a market size of about Rs 25,000 crores. But they do not have a significant share in the middle and economy segment that has a market size of around Rs 1.6 lakh crores. The middle and economy segment is being dominated by regional brands and multi-brand outlets.