Fine-clothing menswear brand Peter England expressed great pan-Indian expansion by opening 100 new outlets by March 2014, aiming to contribute up to 30 per cent in the market share in future, as stated by top company official executive.
“The company has 500 outlets and we want to take the number to 600 by March 2014. The projections are that by next 3-4 years, Peter England will have 30 per cent of market share in this segment, which is large and fragmented category,” Company’s Chief Operating Officer (COO) Kedar Apshankar said.
The company’s current market share is 20 per cent, which is increasing at the rate of 2 per cent per annum, he said.
This has presently located over 200 cities, intending to explore new markets with its brand, which is catering to the middle-class and upper middle class segments.
Peter England owns half of the total outlets in the country while rests are operated on the franchisee basis.