PANAJI, Feb 2: Premium menswear brand Peter England plans to expand its pan-India footprint by opening 100 more outlets by March 2014 and ramp up the market share to 30 per cent in future, a top company official executive said today.
“The company has 500 outlets and we want to take the number to 600 by March 2014. The projections are that by next 3-4 years, Peter England will have 30 per cent of market share in this segment, which is large and fragmented category,” company’s Chief Operating Officer (COO) Kedar Apshankar said.
The company’s current market share is 20 per cent, which is increasing at the rate of 2 per cent per annum, he said.
Apshankar was interacting with reporters on the occasion of inauguration of Peter England’s first exclusive outlet in Goa here by Chief Minister Manohar Parrikar.
Peter England has a presence over 200 cities at present, he said, adding that the company wants to explore new markets with its brand, which is catering to the middle-class and upper middle class segments.
“The company has registered a compound annual growth of 30 per cent in value terms, which is highest in the country,” he said.
Peter England owns half of the total outlets in the country while rest are operated on the franchisee basis. (PTI)
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