Khadim enters retail business
Footwear manufacturer Khadim India Ltd on Tuesday marked its entry into the retail sector with the launch of large format stores.
By PTI |
KOLKATA: Footwear manufacturer Khadim India Ltd on Tuesday marked its entry into the retail sector with the launch of large format stores.
The company plans to roll out stores under the name of 'Egaro' across the country in phases, for which it had earmarked an investment of Rs 50 crore, Khadim Managing Director Siddhartha Roy Burman said here on Tuesday.
These would be departmental stores offering products ranging from apparels, footwear to household items as well as grocery.
Khadim plans to roll out four to five such stores each year. The first two outlets would come up in Kolkata and Howrah, he said.
In the first year, the company is expecting a revenue of Rs 45 crore from the new initiative.
Khadim is also in the process of foraying into the capital market with an Initial Public Offer (IPO) during the current fiscal.
It plans to mop up Rs 65 crore from the IPO and private equity placements. The company has earmarked a capital expenditure of Rs 120 crore in the next two years.
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