June 14, 2014: Kolkata based footwear manufacturer and retailer Khadim India Ltd which has 650 retail outlets is planning to open 350 more in the country taking the total to 1000 Khadim Stores. Khadim has presently 112 company owned outlets and the company is planning to invest atleast Rs.40 crore over the next three years to initially add 100 company owned stores. The company is planning to have each store of size 1,000-1,250 sq ft and looking for an investment of approximately Rs.40 lakh per store. In a statement made by Khadim’s CEO Suman Burman Roy, he said ‘‘At present the company has 650 outlets in the country and in the next three years 400 more will be opened including 100 during the current financial year.”
Recently Khadim India Ltd. which raised Rs.90 crore from private equity (PE) firm Reliance Equity Advisors is looking to pump these funds for this future expansion. The company’s turnover in 2013-14 was reported at Rs 500 crore and in the next three years it has set a target of taking it to the level of R1,000 crore. The company which is yet to enter North India would be adding 80 outlets through the franchise model as well. Khadim which has got accessories like belts, wallets and bags would be concentrating on the footwear market though accessories account for 20 per cent of footwear sales. According to Burman, the brand has been growing at 20 per cent annually and the company would be hoping to maintain the same momentum with the retail expansion.
