Promart news and archive

Brands expect festive season to boost like-to-like growth

After registering good business during the ongoing festive season, apparel retailers are now looking at positive boost in like-to-like sales. Like-to-like growth is the increase in sales from the same store in comparative quarters. Apparel retailers and brands have been witnessing positive like-to-like sales growth in the last couple of quarters...

Fashion

High street rentals a dampener for brands and retails

With rising high street rentals and delays in mall development in many cities, prominent apparel and fashion accessories brands and retailers are finding it difficult to sustain growth on high streets owing to low footfalls. The profit compared to the rents they have to pay is low. For instance, Globus’ store in Mumbai’s upmarket Bandra area,...

Apparel

Promart to invest Rs 100 cr for expansion

After achieving Rs 495 crores turnover this year, Promart Retail now plans to invest Rs 100 crores in 2014 to carry out retail expansion. Promart is looking at a net margin of 6-7 percent next year. The company has also tied up with Franchise India recently for 100 franchisees. For now, it has a presence in 11 states of Rajasthan, Uttar Pradesh,...

Apparel

Promart, Franchise India tie up for 100 franchisees

Promart Retail, a discount retail chain and value format brand has announced a partnership with Franchise India, Asia’s largest integrated franchise solution company to expand their footprint in the country. As a part of this tie-up, Promart will open 25 franchisees every quarter and expects a growth of 15-20 per cent y-o-y. It is targeting Tier...

Apparel

Promart’s brand campaign with Bipasha Basu

Discount retail chain Promart Retail has unveiled a new brand campaign created by McCann Worldgroup India along with a new logo having the tagline ‘Discount is in fashion’. The chain, which has over 50 stores across 11 states, plans to open another 100 stores by the end of 2013. The brand is also planning to roll out a TVC soon. Bipasha Basu...

Apparel

Promart India plans image makeover

Promart India, the discount retail chain for apparels and value format concept, plans to go in for an image makeover and rebranding of its logo in a move to reach out to more people. It plans to open around 100 stores across tier-II, III, IV cities over the next year. Run by Apple Group of companies and VEMB Lifestyle, Promart operates 50...

Apparel

McCann bags Promart’s creative duties

Retail chain Promart has appointed McCann Worldgroup India to handle its creative duties following a multi-agency pitch. The agency’s Mumbai office will handle the account. This is the first time Promart has appointed a creative agency. An in house team handled the creative duties earlier. The lifestyle value retail brand bought out the IP and...

Apparel

Promart launched in Jodhpur

Promart retail, the discounted retail chain and value format concept opened a franchise store in Jodhpur. Spread over an area of 2,000 sq. ft. the Promart store offers popular brands like Levi’s, Pepe, Wrangler, Lee, Spykar, Disney, Stori and many more under one roof. The company already has stores in Ahmedabad, Vadodara, Rajkot, Vapi,...

Apparel

Smaller cities to pep up Promart’s business

Promart Retail, a discounted retail chain which was acquired by VEMP Lifestyle and Apple Group of companies last year from Provogue India, has announced plans to open 100 new stores by 2013. It has signed 50 franchisees to open its value format stores across India, and the focus will be Tier II, III, IV cities. It also plans to enter states like...

Apparel

Promart to focus on smaller stores in Tier II, III cities

Like many other companies, Promart, the discount apparel retail chain has also decided to focus on launching small-size stores in Tier II and Tier III cities, where consumers are waking up to branded wear. Increased spending power, coupled with an increase in awareness levels have contributed to a growth of organised retail. And companies are...

Apparel

Promart opens two stores in Vadodara

Adding to its existing single store in Ahmedabad, value lifestyle retailer Promart has launched two more stores at Vadodara in Gujarat. As per company’s retail expansion plans, it will invest Rs 150 crores for new store launches and building up infrastructure. By March 2012, the company is targeting opening 15 stores and an additional 100 stores...

Apparel

Promart sells retail business

Provogue India has sold its retail business, Promart, to VEMB Lifestyle and Apple Group. This would let both the companies to expand their footprint in India. Promart is a multi-brand household retail chain and value format brand which offers premium products at discounted rates under one roof. With smaller towns showing great demand for brands,...