Franchise India - Asia’s largest integrated franchise solution company is all set to extend its hand towards fructifying the aggressive expansion plan of Chhabra 555 in nine cities of India i.e. Mumbai, Pune, Nasik, Indore, Nagpur, Raipur, Jamshedpur, Patna and Darbhanga. The strategy for expanding in these specific cities is that there is a lot of demand for ethnic wear in these cities.
Chhabra intends to fulfill this demand by providing quality designer ethnic wear and is the most preferred apparel company providing an unparalleled range of Sarees, Suits, Lehangas, Lachas and Bridal wear for gen-next brides, mothers, daughters as well as grannies. Retail giants are also tapping the markets in tier-II & tier-III cities by expanding their footprints to these locations.
The recent research says, women’s ethnic market will post impressive double-digit CAGR growth during 2012-2015, the current market of sarees and ethnic wear stands at Rs 31,000 crore and is projected to grow at 10 per cent to reach Rs 45,000 crore in 2014. Chhabra 555 is a fifty-five year old brand capping the latest in ethnic Indian fashion supported by a select team of designers who put all their creativity and innovation to translate individual lifestyles into the respective product lines.
They started off from a small saree shop in Chandni Chowk and have now emerged as a convincing brand of an enviable chain of high-end ethnic fashion retail outlets. Their presence can be felt over NCR and other outstation locations with more than 60 stores spread across the country. They are now ready with aggressive expansion plans to go beyond their current countable retail outlets.
With a strong distribution network, established supplier base and effective accounting mechanisms, Chhabra 555 aims to achieve 10% market share in key markets by 2015. Also, in their portrayal as a mass player in their branding, they depict a fascinating tale of contemporary style, uniqueness and variety.
Sonya Chowdhry Grover, Director, Franchise India Brands Ltd. elaborated, “Franchise India helps brands across various industries with the right insights to help them appropriately channelize their expansion across countries. We and Chhabra 555 share the common vision of employing rural India to utilise their skills in providing high quality fashionable garments reflecting a perfect blend of ethnicity and tradition at the most affordable prices. Also, we aim to significantly raise the company’s market share in the coming future".
Jagdeep Chhabra, MD, Chhabra 555, said, “Chhabra 555 has gradually emerged as the most preferred destination for Indian women who are very particular about the uniqueness of their wardrobe. We know that these Indian women won’t buy a design that’s similar to the one the next lady is buying. Their wish list for variety and class has means as well as ends at no place other than a Chhabra 555 store.
"Franchising has enabled us to partner with capable entrepreneurs who respect the brand as well as have in-depth knowledge of the local market and their demands. To further our presence in the retail sector, we are seeking more support from Franchise India to provide us with suitable expansion solutions.”
