Globus to invest Rs 150 cr in 3 yrs

Rajan Raheja Group's apparel retail chain Globus is planning to invest up to Rs 150 crore (Rs 1.5 billion) over the next three years to take the number of its exclusive outlets to 50.

"The company would add 30-35 new stores to the existing 18 over the next three years. We will invest in a range of Rs 4-4.5 crore (Rs 0.40-0.45 million) on each store," Globus Stores president Subhash Chhabra said on the sidelines of a retail conference.

Globus' stores are built on an area of 10,000-12,000 square feet and the company would open as many as 10 to 15 outlets every year for the next three years, he said.

Apparels contribute nearly 90 per cent of Globus' India revenues while the remaining 10 per cent comes from the accessories.

Chhabra said the company is particularly strong in women and kids wear segments.

Garments for men contribute 25-30 per cent to its turnover.