Promart ties up with Franchise India for 100 Franchisees

Promart Retail - a discount retail chain and value format brand today announced their partnership with Franchise India - Asia's largest integrated franchise solution company to further expand their footprint in India. As a part of this tie-up, Promart will open 25 franchisees every quarter and expects a growth of 15-20% y-o-y. The company is targeting Tier II-Tier VI cities which is a part of their overall business strategy to further accelerate their presence in India. As a part of this association, Franchise India will help Promart right from strategizing, getting franchisees to grow the brand and implementation to generate more visibility for Promart.

To start a Promart franchisee, one does not need too much capital. A minimum investment of 14lakh rupees will be required for a 700sf ft area (stock and interiors) and an investment of approx 30 lakh for a 1500sq ft area. With a strong pan India presence, Promart boasts of 53 stores today and still counting. Promart is a mass brand catering to the aspirational youth of today depicting a unique sense of style which can be vividly seen through their collection. Promart is a value format concept in lifestyle retailing targeting cities across India who has limited access to fashion. The brand offers exciting discounts from 25%-60% to consumers all year round.

Gaurav Marya, Chairman, Franchise India elaborated, "Franchise India has been consistently helping brands across various industries with the right insights to help them appropriately channelize their expansion across countries. We and Promart share the common vision of making all the prominent brands available under one roof."

Punit Agarwal- Promoter and CEO, Promart, stated, "We believe that the tie-up with Franchise India is going to further help establish the presence of the brand in the Indian market. With their proven expertise in strategizing and implementing retail solutions, we are sure to see rapid growth, scalability and profitability for the company in the coming months which we believe will take our brand to the next level."

Source : Equity Bulls

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