Nandani Creation gears up for investing $1.3 million, hiring and retail stores expansion
In a major development, Nandani Creation Limited says that they have plans for expansion to cater to a bigger set of consumers.
In a major development, Nandani Creation Limited says that they have plans for expansion to cater to a bigger set of consumers. Nandani Creation says it has its eyes set on 20-25 retail stores for expansion by the year 2023. Also, the company says it will hire more than 150 individuals for sales, logistics and supply chain.
"Nandani Creation has earmarked an amount of Rs 42 lakhs to Rs 50 lakhs per store for expansion. The total expansion investment will go up to $ 1.3 million for 20+ stores," a company statement said.
"For the FY 2021-22, key cities of Rajasthan like Kota, Sikar, Jodhpur, Udaipur, Bhilwara, Ganganagar, Neemrana and Alwar have been finalised as per the Nandani Creation's expansion plans. For the FY 2022-23, Nandani Creation eyes big cities like Pune, Gurgaon, Indore and Delhi. Out of these four cities, Pune will be a franchisee. For which company will take approx. 37500 sq ft. on lease for opening new stores," the statement added.
Further, the company confirmed that in a major development it is moving to the Main Board of the National Stock Exchange (NSE) from the Small and Medium Enterprises (SME) platform of NSE. "Once the transit and migration of Nandani Creation from the SME platform of NSE to Main Board is complete, the Jaipur Kurti.com brand is planning to hit some big targets of funding rounds as well. After the said funding round, Nandani Creation has set a sales target of Rs 100 crores to Rs 150 crores annually by the year 2022-23," says the firm.
Moreover, new categories for promotion of India and local artisan are being under process in the expansion blueprint of Nandani Creation.
Commenting on the expansion plans, Anuj Mundhra, Chairman & MD of Nandani Creation Limited, said, "With our brand Jaipur Kurti, we feel so proud that even local items are going to many places. And, now with this expansion, we want to reach out and cater even a wider audience. Also, with this expansion, we plan to leave no stone unturned in serving our consumers by offering the best of our products. This expansion will certainly add more feathers to our cap and consumers too will get to see the new range of products to choose the best ones. Also, our consumers in major cities like Pune, Delhi, Indore and Gurgaon will also be able to avail benefits of having retail stores of Jaipur Kurti.com in their cities."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.