Pantaloon Retail’s flagship seconds sale mega retailing format Brand Factory has revamped its business model. It will no longer stock just items that were unsold in Central Malls [mainly apparels, watches, footwear and accessories] but will not retail products from My Dollar Store, Staples, and even Planet M.
Mr. Rajesh Seth, VP Marketing of Brand Factory opened a new store in Bangalore [seven in all now] and said,
This is bigger not only in size but also in brand offerings. We have added categories like soft furnishings, kitchenware and stationary with the aim of being one stop destination for young families. Majority of the revenues still come from apparels and accessories.
Currently there are 6 Brand Factory’s recording a sales of Rs 200 crore. Pantaloon is targeting at 55 stores and Rs 3,000 crore by 2011. The average billing ticket by consumer is Rs 1,500 and is expected to go up to Rs 1,700 with the revamped business model.