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 II, VI cities, which is a part of their overall business strategy to accelerate their presence. As a part of this association, Franchise India will help Promart right from strategizing, getting franchisees to grow the brand and implementation to generate more visibility for Promart.

To start a Promart franchisee, one does not need too much capital. A minimum investment of Rs 14 lakh will be required for a 700 sq. ft. area (stock and interiors) and an investment of approx Rs 30 lakh for a 1,500 sq. ft. area. With a strong pan India presence, Promart boasts of 53 stores and still counting. It’s a mass brand catering to the aspirational youth of today depicting a unique sense of style which can be vividly seen through their collection. The brand offers discounts from 25 to 60 per cent all year round.

Punit Agarwal- Promoter and CEO, Promart adds, “We believe that the tie-up with Franchise India is going to further help establish the presence of the brand in the Indian market. With their proven expertise in strategizing and implementing retail solutions, we are sure to see rapid growth, scalability and profitability for the company in the coming months which we believe will take our brand to the next level.”

Gaurav Marya, Chairman, Franchise India elaborated “Franchise India has been consistently helping brands across various industries with the right insights to help them appropriately channelize their expansion across countries. We and Promart share the common vision of making all the prominent brands available under one roof.”