Garment retailing is an opportunity every one wants to capitalise on and Hakoba- the Rs. 22 crore, number one, mid-priced womenwear embroidered textile apparel brand, is no exception. Hakoba Lifestyles, which is owned by the country’s biggest embroidered garment, lace and accessories manufacturer Pioneer Embroideries Ltd., has decided to aggresively expand its retail presence by increasing retail stores five fold from 50 at present to 250 at an investment of Rs. 100 crore in the next 3 years. 65 of these stores will be operational in the next three months. During this period, the company will also expand its presence in multi brand outlets from 200 to 800.
Hakoba retail expansion will mostly be through franchisee route as 70% of the retail stores will be franchisee owned while the balance 30% will be company owned. The expansion should result in more than seven fold increase in sales in the next three years.
Over the next one year, Hakoba which boasts of rich a library of 40,000 designs, is looking at brand extensions in the menswear, home textiles and lingerie segments. To increase revenues from its apparel business, Hakoba recently entered premium womenwear segment with a new range of high priced sarees, dress material, etc. Hakoba has planned to sell its new range to be called Hakoba Premium or Hakoba Club only through its exclusive showrooms.
Hakoba is also planning to set up retail stores in the US, the UK and west Asian countries.