IndiaRetailBiz

“The Loot,” the multi-brand discount retailer of apparel, footwear, and accessories, which believes in offering year round discounts as its business model, is planning to increase the number of its discount stores from 30 to 100 by the end of this financial year.

“The company plans 100 outlets by the end of the current financial year and to go public in the next 18 months,” informed Jay Gupta, Managing Director. He was speaking on occasion of opening of the company’s store in the golden city of Amritsar.

The company, according to Gupta, is planning to set 10 stores in Punjab. Next on the company’s list of destinations in Punjab will be the cities of Jalandhar and Ludhiana.

Currently, The Loot has 30 stores operating across the country. Some of these stores are located in cities like Mumbai, Delhi, Pune, Goa, Surat, Ahmedabad, Aurangabad, Navi-Mumbai, Mysore, Bangalore, Jabalpur, Raipur and Nashik. These stores offer discounts ranging from 25% to 60%.

The Loot, founded in 2004, is expecting to register a turnover of Rs 100 cr. this year. Registering a growth of 85%, the company achieved a turnover of Rs 51 crore in 2006-07.

Being conscious both of its topline and bottomline, the company is currently hiring store space at around Rs 75/sq ft. However, it expecting a downward trend in rentals in the coming three to six months, which should augur well for the expansion of its retail network.

Apart from offering well known apparel and accessories brands like Pepe Jeans, Puma, Reebok, Fila, CAT, ID, Red Tape, Marco Ricci, Nautica, Umbro, New Balance, Adidas, Nike, Spykar, Kappa, Bossini, Wrangler, Lee, Lee Cooper, Pepe Jeans, Rifle, Giny & Jony, Disney, Ruff Kids, Lee Youth, Little Kangaroo and international brands like Banana Republic, GAP, Old Navy and Mercedes, ‘The Loot’ is also focusing on sale of private labels like Bus Stop, Eccentric and Road. These private labels constitute 25% of the company’s overall sales.

While, the clothes for private labels are designed in-house, their production is outsourced by the company.