Mothercare to open 100 stores in India
The company had earlier planned to open 50 outlets, but growing demand has led to an upward revision in the number of stores.india Updated: Nov 02, 2006 08:56 IST
Maternity and babywear major Mothercare is planning to open nearly 100 stores in India, the company has announced.
The company had earlier planned to open 50 outlets, but growing demand has led to an upward revision in the number of stores. The company's franchise partner is Shopper's Stop, which believes that Mothercare stores in India should break even within the first year.
A spokesperson for Mothercare said: "If the opening programme goes well, both parties have an aspiration to open more stores. However, that 100-store target is an aspirational figure."
The spokesperson added that Ben Gordon, the company's chief executive, was on a two-week tour of India, visiting the stores and examining opportunities.
The company recently opened its 300th overseas shop. Its stores have opened in markets including Russia, where it is sticking to a franchise formula that combines lower financial risk with more limited rewards, according to The Times.
The market for babywear in India is estimated to be worth 175 million pounds and is tipped to grow at a rate of 13 per cent a year.
First Published: Nov 02, 2006 08:56 IST