The Loot cashing in on the slowdown

The Loot, a multibrand retail chain, says the economic slowdown has actually done well for their chain. The chain that saw footfalls increasing in the last year is now chalking out plans to expand. “We had a completely different experience during the downturn. We saw footfalls increase,

as result in the last 18 months we scaled up to 140 stores 80 new cities. We are expecting our turnover to grow to Rs 100 crores,” says Jay Gupta, managing director.
The chain is popular among customers for its discounted pricing ranging between 25 to 60 per cent throughout the year. It sells top national and international brands at affordable prices. Buoyed by increased footfalls, The Loot is now planning to enter MBOs before the end of this financial year. “If it’s a huge chain we will start a shop-in-shop or a distribution business with them,” says Gupta. That’s not all, The Loot is also planning to set up its own factory “We are focused on outsourcing and we have planned our factory. It should be up in six months in Gujarat,” he says.
The chain derived its name from a US newsletter about a store in the US that was looted.  “Everybody is a hunter,” says Jay Gupta. “They want to come, loot, and buy. We encourage them to learn how to loot. There are a lot of things within the store that excite them. We cut down people’s costs on apparel and shoes.” At the moment The Loot has a tie-up with about 100 brands, buying stock whenever available and giving it to the consumer at a discounted price. Brands like Reebok, Nike, Puma, Wranglers, Lee, and Spykar are all available at discounted prices in these stores.
Apart from the brands it also has its own private labels like Eccentric and Bus Stop. Eccentric is a semi-casual Friday dressing for men. And Bus Stop is a casual fashion wear product that has denims, shirts and T-shirts. Meanwhile, the brand is also planning a private label called Road. It’s to be launched in April and will be a sportswear with apparels and accessories like shoes.