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The Rs. 70 crore retail chain Ebony, is
looking for prime real estate property to
set up stores in Bangalore and Hyderabad.
The Company was willing to start operations
in these cities once it gets a good location
at a reasonable price. Its expansion in
the south of the country has been a subject
for speculation by market watches. Being
a North-based retail chain, awareness about
the Ebony brand is very low in Chennai.
In fact, in a pre-launch dipstick survey
in Chennai, It merged that only three per
cent of Chennaiites were aware of Ebony
retail brand. However, the ratio rose to
28 per cent post launch, attributed to the
fact that the store was located on the busy
Nungambakkam Street.
Kohli admits that it is going to be a tough
task to create loyal customers in a city
which has a highly competitive retail environment
with the big four players (LifeStyle, Globus,
Shoppers' Stop, Westside) already entrenched
themselves in the market.
As of now, Ebony registers an average footfall
around 1000 (between 99 and 1200) during
the weekdays and around 2000 (between 1800
and 2400) during the weekends. With a projected
turnover of around Rs. 14 crore, the company
expects the Chennai store to break even
in two years. To achieve this, Ebony has
adopted a shop-in-shop format and has formed
alliances with several retailers such as
Vivek's, Qwikys, Natalia, Airtel, Sify,
Musicworld among others. |