Peter England plans 100 new outlets by March 2014

Premium menswear brand Peter England is looking at

launching 100 more outlets by March 2014 as a part of its retail expansion plan. The idea is to also ramp up the market share to 30 per cent in future. As of now, the company has 500 outlets in the country. Peter England’s current market share is 20 percent, which is increasing at the rate of 2 percent per annum.

Chief Operating Officer (COO) Kedar Apshankar shared the company’s plans while interacting with reporters after inauguration Peter England’s first exclusive outlet in Goa. The store was inaugurated by Goa chief minister Manohar Parrikar.

Peter England has a presence in over 200 cities at present and the company wants to explore new markets with its brand, which is catering to the middle- and upper middle class segments. Peter England owns half of the total outlets in the country while the rest are operated on a franchisee basis. “The company has registered a compound annual growth of 30 percent in value terms, which is highest in the country,” he said.