The Bombay Store clocks positive Q2 results

The Bombay Store registered a profit of 96.70 per cent

for financial year 2010-2011 compared to the last financial year. The Bombay Store has almost doubled the profit before tax in financial year 2010-11 as compared to preceding year 2009-2010 in the declared annual report.

The increase in revenues is attributed to addition of three stores, which have already started contributing to the top line of the company. New outlets at airport have opened up new avenues of growth for stores. The chain is planning aggressive retail expansion by spreading wings to the south Indian cities. It currently has 17 stores across the country and has plans to launch at least three stores in Chennai and one in Kochi during the current fiscal.

After opening three outlets in Hyderabad, four in Pune, it will soon have two in Bangalore and followed by Chennai and Kochi. In the Western region, the retail chain has plans to expand in Indore and Nagpur and Baroda next fiscal. Other cities that will house outlets are: Ahmedabad, Jaipur, Udaipur, Chandigarh, Ludhiana and Kolkata.

Despite high rentals and lack of skilled manpower, the company was able to achieve positive results in the retail business. The Bombay Store offers an array of beautifully designed products such as fine tableware and luxurious home decor items, pure authentic skin care and home fragrances, silver plated accessories and a stylised range of apparels based on natural hand woven fabrics, using traditional craft skills. Apart from these products, it houses international brands across various product categories of apparel, fashion accessories, personal care, home accessories, soft furnishing and stationery.