Alta Moda to set up 100 stores countrywide

Friday, 30 November 2007, 03:25 Hrs
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Hyderabad: Hyderbad-based Alta Moda Garments Thursday announced that it would be opening 100 stores by 2009.

It has also tied up with 14 top designers in Italy to introduce their brands in India. These brands will cater to the urbane, upper- and middle-income groups.

Manoj Kumar Saraogi, CEO, Alta Moda, told media persons here that by 2009 the company would set up 100 stores, both franchisee and standalone models. It will target all major and mini metros along with tier-II and tier-III cities.

The company plans to open 50 shops in the first year with expected gross sales of 1.2 billion.

Each store is likely to have an average turnover of 2 million per 1,000 sq ft per month with 70 percent of the revenues coming from women's products and 30 percent from men's products.

All stores will be in the range of 500 to 5,000 sq ft.

Alta Moda will open two stores in Hyderabad with the first shop coming up by Jan 15.

Each store will have 400 women's and 300 men's products ranging from clothing to accessories. The products would be priced in the range of 3,000 to 30,000 for women and 5,000 to 30,000 for men.

"India is on the threshold of global fashion and the 'aspirational' lifestyles of young Indians have created vast demand for high-end, foreign brands," he said.
Source: IANS
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