Diwan Saheb plans to roll 4 outlets in 2009-10

Premium men’s wear brand Diwan Saheb is planning to open four exclusive outlets next fiscal with an investment of Rs 10 crore.

Premium men’s wear brand Diwan Saheb is planning to open four exclusive outlets next fiscal with an investment of Rs 10 crore.

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The company, which specialises in both custom tailoring and ready made ranges for grooms, has currently 14 outlets across India and plans to open the stores at Delhi, Noida, Chandigarh and Mohali.

“We have currently 14 outlets including nine company owned and five franchise operated. We would invest Rs 10 crore to set up four more outlets specialising in both custom tailored and readymade men’s wear during the 2009-10 fiscal,” Diwan Saheb Managing Director Sudhir Diwan told PTI.

He said the investment for the expansion would come through the company’s internal accrual and all the four new stores would be company owned.

“The ongoing downturn has not affected our sales much as we cater to the premium segment of men’s wear, including ethnic, grooms and western ranges. We want to capitalise on the good show and spread our retail presence,” Diwan said.

Diwan Saheb is also looking at increasing its turnover to Rs 60 crore by 2010-11.

“We had recorded an annual turnover of Rs 40 crore in 2007-08 and our target is to take the figure to Rs 60 crore by 2010-11 on the back of our expansion,” Diwan added.