Ecko Unlimited, the global epitome of urban lifestyle on Thursday announced its entry into Punjab with the opening of its first exclusive store in Jalandhar in an exclusive tie up with Spencer?s Retail Limited.
Spencer?s Retail Limited?part of the Rs 15,500 crores RPG group?is a multi-format retailer. Spencer?s is on a high growth path with a target of Rs. 1,050 crore sales turnover by the end of the current financial year.
Anurag Rajpal, vice- president (apparel), Spencer?s Retail, told FE that Ecko Unlimited and Ecko Red, both well-known international brands are from the house of famous US artist Marc Ecko, who transformed art into fashion. Rajpal said ?We are very excited to launch our first store in Punjab in city of Jalandhar. The region is an attractive market due to its huge potential to provide impetus for growth in retail sector. ?
The Punjab plans would entail an investment of over Rs 10 crore in next couple of months. ?We are planning wide expansion across the Punjab region both in the form of company owned outlets and franchisees. After Jalandhar, we will be launching more stores in Chandigarh and other cities in couple of months. Eventually we will set up a footprint in all the districts of Punjab and have multiple outlets in all the prominent towns of Punjab,? Rajpal said.