<p> Speaking to Deccan Herald following opening of its fourth store at Bannerghatta Road, Chief Operating Officer Pankaj Tibrewal said “We are present in 40 cities with 53 stores and want to expand our business to Tier II cities in coming years.”<br /><br />He claimed Pantaloon registered 20 per cent growth in stores strength and 40 per cent in overall revenue terms. Pantaloons stores will be part of Rs 2,100 crore investments earmarked for group expansion, he added. Pantaloons wants to develop strong presence in South India by opening Pantaloons stores in Hyderabad, Chennai and Coimbatore. To woo customers, it has brought out green card which will give value for customers like additional 5 per cent discount on Fashion Fridays, complimentary parking, home drop of altered apparel, shipping across India, 90 day exchange period, home delivery etc.<br /><br />On 10 per cent excise duty on branded garments in the budget, he said customers will have to bear the brunt as retailers have limited options to absorb it. “We are facing challenges on rent and high raw material cost,” he added.</p>
<p> Speaking to Deccan Herald following opening of its fourth store at Bannerghatta Road, Chief Operating Officer Pankaj Tibrewal said “We are present in 40 cities with 53 stores and want to expand our business to Tier II cities in coming years.”<br /><br />He claimed Pantaloon registered 20 per cent growth in stores strength and 40 per cent in overall revenue terms. Pantaloons stores will be part of Rs 2,100 crore investments earmarked for group expansion, he added. Pantaloons wants to develop strong presence in South India by opening Pantaloons stores in Hyderabad, Chennai and Coimbatore. To woo customers, it has brought out green card which will give value for customers like additional 5 per cent discount on Fashion Fridays, complimentary parking, home drop of altered apparel, shipping across India, 90 day exchange period, home delivery etc.<br /><br />On 10 per cent excise duty on branded garments in the budget, he said customers will have to bear the brunt as retailers have limited options to absorb it. “We are facing challenges on rent and high raw material cost,” he added.</p>