New Delhi: Kishore Biyani-promoted Future Group subsidiary Future Brands is planning to set up 20 exclusive stores of its formal menswear clothing brand John Miller over the next three years.
The company is also planning to retail the John Miller brand through over 1,000 multi-brand trade outlets across the country and the expansion would involve an investment of around Rs30crore.
“We have just opened our first exclusive John Miller outlet at Mumbai and plan to set up 20 such stores by 2011 with an investment of Rs30 crore. Besides we are also planning to expand the retail presence of the brand by making it available in 1,000 odd multi-store outlets during the same period, up from the 85 where it is now available,” Future Brands Chief Operating Officer Atulit Saxena said.
He said that the company is aiming for a turnover of Rs100 crore with the John Miller brand this fiscal. Asked about the target for next three years, Saxena said: “It is only the beginning of a long journey and we will set our turnover target as we grow.”
“The company’s new exclusive stores would be set up in the metros and Tier I cities, while the expansion in multi-brand outlets would be a pan-Indian phenomenon,” Saxena added.
The John Miller brand is targeted at the premium segment customer and the company had this month introduced a new range range of shirts, trousers, suits and blazers under the Autumn Winter Collection 2008.