Provogue plans new 40 outlets by year-end
Provogue plans new 40 outlets by year-end Provogue is all set to add another 40 stores by December 2007, and is planning to introduce new categories in its businesses, reports Business Standard. The apparel maker plans to set up one store costing Rs 5-6 million, every ten days and is expecting the new stores to contribute 25% to the top line of the company this year. >The company has drawn plans to increase the presence of its discount format Promart in tier-II and III cities in the country. The company will open four new Promart stores by the end of this financial year. Setting up of each Promart store costs around Rs 20-30 million. Provogue has 116 stores in nearly 61 cities and and runs a j oint venture with UK-based Liberty International to build malls in the country. The company has launched bed and linen as a pilot project in its Mumbai stores. Besides it also runs Provogue Studio spreading over 1,500-2,000 sq ft and Provogue Mega.
Shares of the company gained Rs 16.75 , or 1.92%, to end at Rs 888.4. The total volume of shares traded was 20,009 at the BSE.(Thursday ).
