Date:09/01/2007 URL: http://www.thehindubusinessline.com/2007/01/09/stories/2007010902300500.htm

Back Globus set to expand

Our Bureau

Hyderabad, Jan. 8

Globus, the Mumbai-based apparel and accessories company, is planning to set up 21 stores by the end of the next financial year, taking the total number of stores in the country to 37. The company, which registered a turnover of Rs 100 crore last year, is looking at Rs 145-150 crore, by the end of this financial year, Mr Vinay Nadkarni, Chief Executive Officer, told Business Line.

"We will add five more stores by the end of March, taking the total to 21. Each store required an investment of Rs 3 crore," he said. Ms Soha Ali Khan, the brand ambassador for Globus, was in the city on Sunday to take part in a promo at the outlet opened here recently. "Our USP is that we sell our products, designed by the 25-member in-house team, only in our outlets. We don't believe in selling the products in multi-product outlets," he said.