Park Avenue targets 30-35 pc growth in 2007

Kolkata, Jan 5: Park Avenue has targetted a growth of 30-35 per cent in turnover the 2006-07 fiscal, Park Avenue Senior Manager Vishal Kapoor said here today.

Speaking at the launch of Lycra brand, Mr Kapoor said,''We are planning to bring a new collection for mid segment of the market. A separate research cell has started surveying the potential of this market before bringing this new range.'' This segment would not be a premium segment and would be priced moderately. ''We expect to launch this new collection soon,'' he said.

Speaking about Lycra, Mr Kapoor said, ''Lycra is an "Easy Stretch" collection in the premium menswear category. This collection with Lycra fibre has trousers, shirts and siuts.'' Park Avenue is currently present in 124 cities with 349 stores.

''The company is planning to open a new company-owned retail stores as well as malls. We aim to open 60 per cent of our stores in malls as footfalls are high there and the rest 40 per cent will be company owned showrooms,'' Mr Kapoor mentioned.

UNI