Celio, a hi-fashion French men’s apparel brand, is planning to invest Rs. 15 crore in the current financial year ending January 2011, to expand its presence across the country, according to Rajat Luthra, Chief Executive Officer, Celio Future Fashion.
Mr. Luthra was in Chennai in connection with the inauguration of a new store at Ampa skywalk. He said Celio had presence in Mumbai, Bangalore and Delhi as standalone stores and across the country as shop-in-shop (SIS) formats. It planned to open a new store in Hyderabad and two more in Bangalore, he said. Stores in Chandigarh, Ludhiana and Pune too are planned.
He said the new store in Chennai, spread over 1,400 sq.ft., would showcase the Celio collection of business, casual and sportswear for men. The CEO said at present Celio had 42 SIS and 10 standalone stores.
The company would open another 30 SIS and 15 standalone in the current financial year.
The company so far invested Rs. 25 crore. The company was aiming to achieve a turnover of Rs. 50 crore by 2011 and Rs. 100 crore in 2012.