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Benetton Group eyes $55 mn revenue from India

Benetton Group eyes $55 mn revenue from India
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First Published: Thu, Sep 20 2007. 03 52 PM IST
Updated: Thu, Sep 20 2007. 03 52 PM IST
By PTI
Chandigarh: Apparel company United Colors of Benetton today said it aims to double its revenue earning from India to $55 million (Rs219 crore) during this year and open 30 new outlets in the country.
“We are expecting a turnover of $55 million from our garment business in India against $30 million achieved last year as India is one of the fastest growing markets for apparel in terms of size and quality of customers,” Benetton Group Executive Deputy Chairman Alessandro Benetton said.
The company has also decided to open 30 outlets in the country in this year to strengthen its retail network. “We will increase the strength of our outlets to 170 from 140 in 53 cities at present whereby new outlets would be opened in metros and tier II cities,” he said, adding that 30% of these outlets would be company owned.
The company also announced to open its largest outlet of 1,100 sq m here to cater to the growing market of apparel in north. “We chose Chandigarh for opening our largest outlet because it will allow us to capture Punjab and other neighbouring markets,” he added.
Benetton Group is present in over 120 countries and produces 130 million garments every year. It has a retail network of 5,000 stores around the world and a total turnover of over 1.9 billion euro.
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First Published: Thu, Sep 20 2007. 03 52 PM IST