Retailigence

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Provogue plans Rs 90 crore expansion

Posted by retailigence on October 5, 2008

Provogue India, the Mumbai-based retail company is planning a Rs 90 crore expansion through internal accruals.

The company had risen about Rs 314 crore through a preferential offer to Acacia Partners, T Rowe Price, Genesis and others.  Provogue plans to expand in tier 2 cities by having ten new Promart stores- a smaller retail part of Provogue – in cities such as Jaipur, Lucknow and Coimbatore.

The Promart retail store chain typically has stores of 300000 sq ft and is looking at enjoying a 10 per cent share of the US $ 25 billion retail market by 2010. Promart stores are located in Indore and Ahmedabad. Provogue is also expanding its exclusive brand outlets, which have a store size in the range of 1500 sq. ft. to 6000 sq. ft.

Source: Economic Times

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