New Delhi: In a major expansion drive, high-end apparel brand Blackberrys would open additional 50 stores in India by March next year, a senior company executive said.
The company currently has 22 branded stores in the country, which would go up to 25 by March this year.
PTI quoted Blackberrys General Manager, Marketing and Sales, Badal Chaudhry as saying, "We will open 50 additional brand stores in the next financial year taking the total to 75."
Ruling out the company floating an initial public offer in this context, Chaudhry said the company plans to spend Rs 25 crore for this expansion. The required funds would be raised by way of internal accruals as well as external financing.
The company expects to close 2006-07 with a turnover of Rs 120 crore, and is targeting Rs 150 crore next fiscal.
The company, which currently makes trousers, suits and jackets, would expand into shirts and women's wear soon. "But shirts and women's wear would contribute less than ten per cent of the total turnover," he said.
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