New Delhi, July 12

ITC LTD’S lifestyle retailing business division is eyeing Rs 30 crore turnover this fiscal by opening up 50 premium apparel stores across the country.

"We will be opening up around 50 stores of Wills Sport range of premium apparel across the country by the end of this financial year and are expecting a turnover of Rs.30 crore", chief executive of the division Sanjiv Keshava said at the opening of a new apparel store here. He said by the end of this month the company will double its number of stores, from the present 11, and added that the stores were targeted at higher income group.

However, he refused to comment on planned investments and revenue generated from the apparel division.

He further said ITC group was also planning to foray into food business in near future and was exploring all the possibilities. "ITC is working on the project to enter the food business as a part of its diversification programme," he said.

Apart from opening stores in big cities like Delhi, Mumbai, Chennai and Bangalore, the company had already opened stores in Ambala, Trichy, Pune, Ranchi, Indore, Bareilly and Dehra Dun.

PTI