Fashion discount retail chain Brand Factory, which is a part of Kishore Biyani promoted Future Lifestyle Fashion, plans to open around 250 stores in next five years.
“Initially we planned to be 100 stores by 2020, but back on the response we received from our recently concluded ‘50 per cent Anything & Everything’ sale last week, we have revised our plan and targeting to be 200-250 stores by 2022. The immediate plan is to open 100 new stores by next three years, and we want to penetrate all the towns and cities in the country,” Suresh Sadhwani, CEO, Brand Factory said.
“We are typically away from the main market. We have our stand alone format which is not into malls. Because we are away from the main market that keeps our rental and other operational expenses low. Also, the products that we produce in bulks help us in margin. Additionally, there are brands those come and offer discount on their own cost. These aspects help us to sustain our model. Merchandise production, low rental and brand participation all three things put together we are in a profitable business model,” Sadhwani said.
Brand Factory retails around 200 brands out of which 30 per cent forms its own brands in the stores.
In its recently held ‘50 per cent Anything & Everything’ sale event, Brand Factory said, it has achieved Rs. 90 crore business and 5x sales.
Brand Factory operates 55 stores in 22 cities presently.
Apparel and Textile News, Apparel Talk, Indian Apparel