After the rejig in Aditya Birla Nuvo / Madura Garments, Peter England People was positioned as a mid-priced family department store catering to the fashion needs of the entire family. The chain has five large format stores, around 15,000-20,000 sq ft in size.
In 2007, we reported about the formation of Peter England People stores. Then the revenues were projected fro mthis vertical at Rs 1,300 cr over the next 5 years with an investment of Rs 400 cr. However, it is reliably now learnt that these stores have failed to generate revenue on projected lines.
An official of the company said,
Peter England People, the family concept store launched last year, will continue to operate. However, due to the current economic situation, expansions will be kept on hold till conditions improve. In the meantime, new merchandise is hitting the stores shortly.
There are rumors that top 80 executives in the Peter England People wing have been asked to relocate internally or externally, adding fuel to the fire of closure of the format.
KumarManglam and Neerja Birla the opening of Peter England People in Mumbai.