Financial Daily from THE HINDU group of publications
Thursday, Oct 10, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 10, 2002 |
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Marketing
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Retailing INC 5 sets foot in Chennai Sravanthi Challapalli
CHENNAI, Oct. 9 INC 5, a brand of women's and children's footwear, has set up shop in shoe brand Florsheim's store at Ispahani Centre here. Speaking to Business Line, Mr Shiraz Lalani, Chief Marketing Officer, INC 5, said the Chennai outlet was the sixth this Mumbai-based company set up as part of the expansion drive started last year. The company is planning to open a store in Spencer Plaza and one in Hyderabad next. New Delhi, Kolkata, Bangalore, Mumbai and Ahmedabad are the other places where the brand is present. In fact, in these cities, the stores are owned by INC 5 and Florsheim has some space for itself, Mr Lalani said. INC 5 is promoted by the Mumbai-based Regal Shoes chain. According to Mr Lalani, the store would make footwear to order and adapt existing designs to individual consumer needs at no extra charge. Prices start from Rs 395 onwards. Handbags are also being sold at the store and soon, it would sell some jewellery and garments too. "The brand, which is scouting for tie-ups with other Chennai-based stores to start a loyalty programme, expects to notch up a turnover of Rs 10 crore by fiscal 2003," Mr Lalani said. It aims to have 10 stores operating by that time. So far, the investment has been around Rs 8 crore.
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