ColorPlus the casual wear brand from Raymonds which had earlier put on hold all expansion plans is now looking forward to encash on the real estate doom, which was the major hurdle for many retailers.
Mr. Ashesh Amin, Head of ColorPlus said,
Cashing in on the falling trend in Real Estate, we have decided to expand our Retail Network with stores way above what we have plannd for the next couple of years.
ColorPlus opened its largest Exclusive Brand Outlet(EBO) in Chennai taking the total number of EBOs to 56. The company will open 4 more EBOs by the end of FY 2009. It is also present in 50 Raymond outlets, 32 shop-in-shops and over 200 multi-brand outlets including malls.
ColorPlus brand has sales of Rs 200 cr. The company is planning to aggressively promote the brand and compete with Tommy Hilfiger.