Megamart to reposition as family stores

Megamart, the multi-brand retail chain of stores from

integrated textile and apparel maker Arvind has decided to reposition itself as family store by investing Rs 50 crores on expansion this year. The decision was taken after many women’s and kid’s apparel brands began occupying their store shelves. Currently, its 225 stores are operated in two formats – Megamart and Big Megamart in the South. The company plans to expand its retail network by taking these formats to other parts of India. This includes Tier II, III cities which are perking up with demand for branded apparel.

Initially, the company only focused on building its retail presence in the South to test waters. And after trying out various formats, it has decided to spread to other parts of the country. It plans to add more stores to its existing 225 out of which about 30 stores are in Maharashtra including Mumbai. The expansion plans also include increasing Megamart stores area from 7 lakh sq. ft. to 10 lakh sq. ft. Women’s wear brands like Karigari, Anahi, Cherokee, Mosimo and Iris are already creating footfalls, more brands are to be added to shop shelves. In the case of kids’ wear, the company is expecting to generate revenues worth Rs 550 crores this financial years compared to last year’s Rs 400 crores.