Page 30 - Images Retail January 2018

EXCLUSIVE

up merchandise from a store In case of brick-and- little bit of risk for you don’t best of quality at aff ordable
if that is convenient. If not, we mortar stores, do you have know how soon they are rates, making us formidable to
can deliver the products to a location preference? going to be open to public, the competition.
the consumer, at his doorstep. We prefer to open Soch whether their cinemas, FEC
We plan to roll this out in all stores on high streets, but zones and food courts will Tell us about the growing
stores very soon. unfortunately in every city be good enough to attract competition in your
Apart from this, we actively there are only three or four crowds. A lot depends on segment.
capture and study customer streets which are workable. these elements. Luckily, in our space, there
data, and track customer Th e advantages of being in a However, if we want to is not much of competition.
buying patterns online as high street are that retailers grow more, the only way is We are an Indian ethnic wear
well as offl ine. Of course, more or less know how much to go malls. In India, around brand and even if four or fi ve
we are still in the process of business they are going to 100 malls are coming up in brands like Soch emerge,
refi ning all these techniques, do. When you sign up for a another two years. Out of there is enough scope for
but we are vigorously working mall, which hasn’t even been these 100, there are 25-30 that growth for all of us. When
towards achieving them. launched, you are taking a are brilliant, and we would you consider the women’s
ethnic wear segment – since
we haven’t branched out
into any other segment yet
– approximately 10 percent
of the share comes to the
organised sector, which
means huge scope for growth
for us and our competition.

What are your expansion
plans?
We are at a stage right now
when we don’t need to raise
funds for expansion. Our
internal growth, luckily,
is enough to fund any
expansion plans that we have.
Since we are also using the
franchise route to expand, we
don’t need much in the way of
investments. Th e plan to keep
like to be in all of these. At expanding with the franchise
the moment, we have 48 high model.
street stores and are present
in 54 malls. What is your expected
turnover?
What is your pricing Soch expects to earn a
policy? revenue of `425 crore in
I think if you compare our 2017-18 and is targeting
range of the products, we a growth of 40 percent on
are cheaper than most of that in 2018-19. Th e Indian
the brands in our space with womenswear market was
quality which is as good as estimated to be worth
the competition, if not better. `1.128 trillion last year and
Since we also manufacture grew at a compound annual
some, we know the costs growth rate (CAGR) of 11.4
of manufacturing when percent between 2011 and
we go to buy from outside 2016, according to data from
manufacturers in bulk. And research fi rm Euromonitor
since we are able to strike International. And Soch
the best of deals with our believes they are perfectly
suppliers, we manage to off er poised to grow bigger than
our products to consumers the what they are today.

30 | IMAGES RETAIL | JANUARY 2018