ColorPlus Fashion to open 120 stores in 2 yrs

Chennai: ColorPlus Fashion, a subsidiary of Raymond, is planning to roll out 120 stores over the next two years. The company currently has 56 stores across the country.

Speaking to reporters after launching a new showroom, Ashesh Amin, head, ColorPlus India, said the company was bullish on the growth in the premium casual wear segment and plans to tap this market by launching new stores and brands. The segment is growing at 15 per cent and is expected to touch 25 per cent in the coming years.

The company expects women and kids wear segment to contribute 10 per cent to its total business over the next two to three years from the present 1 per cent.

ColorPlus has set a target to double the turnover to Rs 300 crore by 2010-11. Amin said the proposed stores would help the company reach the target. He did not disclose the investment plans. The 2,500 sft Chennai showroom involved an investment of Rs 70 lakh.