The Loot’s big plans

Jay Gupta of The Loot Stores, the chain of multi-brand stores at discounted prices has revealed

the chain’s big plans. He says they have experienced an average growth of 40 to 50 per cent year-on-year basis and a whopping 60 per cent growth this festive season. This has made the management confident to put together an ambitious growth plan.

Nearly 50 stores will be added in the next six months. The management has no plans on restructuring its already successful business model, but is open to adaptations as and when required. Gupta says they are now 150 stores, pan-India, present in Tier II and Tier III cities. They operate on the franchise model when it comes to smallest towns because every city has different rules and regulations about which, the franchisees are well aware. He sees potential based on the buying behavior of consumers for various national and international brands. The Loot is planning an IPO to support its growth plans. With footfalls consistent on usual days and quite high over the weekends, Loot is introducing extra offers for its consumers to lure them to browse and buy.

Gupta feels that The Loot as a brand name itself signifies the discount format in which it has been operating. As this has been accepted well, the management has studied the positive feedback and think the current format is acceptable for the long run.