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Wills Lifestyle to open 50 new stores
Economic Times - 07 Oct 2008

ITC Wills Lifestyle, premium fashion label, will open 50 more exclusive outlets, thus establishing its presence in 40 Indian cities in the next two years, a senior company official said on Tuesday.

"We are looking at doubling the number of stores in the next two years," Divisional Chief Executive, Lifestyle Retailing Business Division, ITC Atul Chand said here. However, he did not divulge investment details of the expansion plan.

ITC Wills Lifestyle, the main sponsors of the "India Fashion Week", opening here on October 15, will open new stores in cities it is already present. Besides, it would open premium stores in tier II and III cities like Raipur, Surat and Siliguri, Chand said.

As the title sponsor for the fashion event, he was addressing media along with President of Fashion Design Council of India Sunil Sethi.

At present, the ITC group company has stores in 30 cities and would add 10 more in its retail network, he said. According to industry estimates, of the total Rs 8,000 crore market for branded clothes, the high-end labels account for Rs 2,000 crore. "The market of premium brands is growing at about 15 per cent but our growth is 25-30 per cent in April- September," he said.