Provogue India Ltd, an apparel firm is planning to open a multi-brand clothing chain which will help it to remain less reliable on its own brand.
Out of total revenue in three years half of the revenue will be generated from discount chain along with Prozone mall development venture and remaining will be generated by Provogue brand.
Chain will offer 20-60 percent of discount and would sell excess stock. The chain named Promart is expected to start in January. This 50,000 square feet store will be in Ahmedabad and more stores are yet to come this year.
Opportunity is huge for the company, as other brands are looking for a substitute to seasonal stock clearance. Provogue's stores can generate an annual revenue of Rs350 million.
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