UK retail major Debenhams to expand in India1 min read . Updated: 27 May 2008, 03:42 PM IST
UK retail major Debenhams to expand in India
London: Britain’s largest retailer, Debenhams, has announced plans to expand its presence in the Indian market in order to achieve its target of more than doubling international sales over the next four years.
The company which opened its first Indian store in October 2007 in Gurgaon with partner Planet Retail, will set up another two outlets in the city before the end of the year, followed by significant expansion over the coming decade, the Independent reported Tuesday.
“I would be disappointed if we do not have 30 stores in India in 10 years’ time and that is proper department stores," said Francis Mc-Auley, the company’s international director.
“The Indian market has a real appetite for Western brands and the education and understanding of the young people is second to none," he added.
The company’s 43 international outlets, which are operated by franchise partners, are on track to hit the 280 million pounds sales target for the financial year to August.
For the next four years, Debenhams wants the sales to reach the 600 million pounds-mark from 90 department stores, said Francis Mc-Auley, the company’s international director.
The company’s focus in the near future will be India and Russia, the daily said. Debenhams is targeting India’s upper and middle-class shoppers.