Archies to open 200 new stores nationwide

Buoyed by its excellent performance in the last financial year, Archies Limited has plans to open 200 company-owned stores across the country in prime retail space over the next two years.

Vijayant Chhabra, Director, Archies Limited, told reporters In Jamshedpur on Thursday that 75 company-owned stores were already in operation in various parts of the country.

Chhabra, who was in the steel city to inaugurate the new-look Jamshedpur Archies gallery in Bistupur, said that the company had at present 500 franchisees and outlets spread across 139 cities in India and six other countries.

He said that the company had introduced ladies exclusive products including fashion jewellery, handbags under the brand name 'Stupid Cupid' six months ago.

These new products would be made available in the company's own stores and retail outlets soon, he said.

The company presently has seven 'Stupid Cupid' stores including five in Delhi alone. 15 such stores will come up by this year-end in the country, he said.

In view of some international companies willing to tie up with Archies, he said, the company had high expectations in 2007, setting a target turnover of Rs 100 crore against Rs 85 crore recorded this financial year.