We are now looking at expanding into tier II and tier III cities, apart from the southern region in India. We already have 32 stores in nine cities and are opening 10 more stores in the south. We are planning to grow extensively in the south with stores in Chennai, Hyderabad and Bangalore by this year end, said Malik.
The penetration into smaller towns will increase the sale of handbags for Da Milano from 40% to 60% in the total portfolio. We will only enter these markets with the women bags range which will further increase our share of woman bags in the overall portfolio, said Malik. At present 25% of the total sales for Da Milano is footwear, womens bags is 40-45%, accessories and wallets is 40%. Our revenue sales on year ending March 2012 was Rs 65-70 crore and we expect to grow at 25% this year as well ending March 2013, added Malik.