The Bangalore-based William Penn, a multi-brand retail store chain housing the premium fine writing instruments, plans to expand its retail network to 20 stores by 2011 from 14 now, according to Nikhil Ranjan, CEO.
Mr. Ranjan was in Chennai on Thursday in connection with the introduction of OMAS, an Italian luxury pen brand through its store at Express Avenue here. He said OMAS was yet another addition to the limited list of luxury writing instruments available in India. Three of OMAS top models were introduced in India along with two of the limited edition models. These instruments were priced between Rs.13,500 and a few lakh of rupees, he said.
The company would open stores in Kochi, Kolkata and Pune soon. It was also looking at opening one more store each in Chennai and Hyderabad.
He said the demand for pen priced above Rs.1,000 had gone up in recent years. Besides, a larger section of people was willing to get most expensive limited editions.
Mr. Ranjan said the company had also an online presence, www.williampenn.net. The company expects a revenue of Rs. 45 core in 2010-11.