HomeTown targets Rs 1000 cr revenue

HomeTown, a retail format of Pantaloon that operates 10

outlets in major metros, is aiming for Rs 1,000 crores revenue by FY ’12. Same-store sales for the company have grown by 60 per cent year-on-year in the last three years. HomeTown is a first-of-its-kind home improvement retail format in India that provides one-stop home-making solutions. Its range of products include furniture, bath and sanitary ware, modular kitchens, furnishings and accessories et al.

The format also offers a design and build service, which encompasses experienced designers who help design the home, and a team of skilled technicians for services like carpentry, flooring and tile installation, plumbing, sanitary ware installation, painting and wall paper, and electrical fittings. The company plans to add another10 stores by the end of the next fiscal at an investment of Rs 20 to Rs 25 crores per store and the average size of these stores would be around 1.5 lakh sq. ft. HomeTown’s CEO Mahesh Shah says they are looking at smaller formats and the plan is to open about 50 such stores in the next 2-3 years. These will be much smaller in size at 20,000 sq. ft. per store. These stores would be named either HomeTown Zip or HomeTown Local.