Retail in Asia

In Shops

Allen Solly eyes USD161m sales in FY16, to open more stores

Allen Solly, the premium readymade brand from Madura Garments owned by India’s Aditya Birla Group, is eyeing a turnover of INR1,000 crore (INR10 billion, USD160.9 million) in FY16.

"We should cross INR800 crore (in sales) this fiscal and touch INR1,000 crore next fiscal. We have been growing at 34 percent CAGR for the last three years and we intend to maintain that," Allen Solly brand head Sooraj Bhat told PTI.

Allen Solly, launched in 1993, has 207 exclusive outlets and Bhat said they will add 40-50 stores each year. "We nearly doubled our store count in the last two years. We opened around 50 stores. We will add 40-50 stores every year," he said, adding each store costs nearly INR40 lakh.