FSquare to multiply

Prateek Apparel, the retail arm of Prateek group and a domestic player in the apparel design,

manufacturing and retail space, is looking to set up a 300 FSquare stores -- its small format value retail store -- in the next three years. FSquare offers youth apparels at value prices. The Bangalore-based company, which runs the Coupon malls across India, currently has 100 FSquare stores in Karnataka. It will invest Rs 250 crores for its expansion plans including for the opening of nine Coupon malls this year. Coupon as a venture in the discounted retail space offers over 200 national and international brands for men, women and kids.

The company is following the cluster approach for expansion and is looking to establish its presence in one state before moving on to the next. The group has already invested over Rs 100 crores for their expansion drive. They have plans to set up stores in Tamil Nadu and Andhra Pradesh. The company intends to have a presence in all major Tier I and II cities in the states it is present. Also, they are targeting sales of Rs 350 crores this fiscal ending March 2011 and intend to touch Rs 600 crores by March 2012. For financial year ’10, the company generated revenue worth Rs 250 crores.