Provogue to add 60 new stores

Provogue is unveiling major growth plans by adding a string of new stores. The brand has

already opened 10 new stores and another 60 will be opened this year. The brand also plans to move along with large formats like Shoppers Stop and Central who are on a huge expansion drive. This means Provogue will get almost 100 new doors within this year.

Since the brand is adequately funded, it expects bottomlines to remain at the current levels. In fact, Provogue hasn’t raised money since 2008-2009. Same store sales growth has been over 9 per cent. The track record of the last two quarters has been fairly bullish and Provogue is opening a mall in October this year. This is a huge center with a 1,200-car park and has tenants like Shoppers Stop, Westside, Globus, Pantaloon, Croma, Star India Bazaar, Fashion at Big Bazaar, and Satyam Cineplex. Provogue is targeting annual rentals of about Rs 40 crores and is confident of achieving that.

It has projects in Coimbatore, Nagpur and Indore all of which will be launched by this year end. Launched in March 1998, Provogue is currently one of the biggest retail apparel brands in India based in Mumbai. It was conceived as a fashion brand and over the years it has been consistent in its communication and has never diluted its positioning. What’s more, the brand has been innovative in using events as a major brand building tool.