Cantabil Retail, which has nearly 378 stores across India, plans to add 80 to 90 retail stores per year and is targeting revenue of Rs. 1,000 crore over the next three years.
Last year, it had registered around Rs. 383 crore of sales– its highest ever.
As per a report of The Economic Times, a leading business daily, Deepak Bansal, Director, Cantabil Retail said that Cantabil is a zero debt company, and it aims to keep it that way.
“To achieve the target of Rs. 1,000 crore, we need to add approximately 300 new stores. We also need strong retail expansion, warehousing, distribution and a corporate office. All these put together, we will be taking around Rs. 160 to 170 crore of investment in the next three years,” he said.
He added that 75 per cent of its stores are company-owned and 25 per cent are on a franchise model, and the company aims to maintain the same ratio in the future.
Cantabil’s core presence is in north India, followed by Maharashtra, Gujarat and the eastern part of the country. Moving forward, the plan is to expand across all three regions.