Globus targets net sales of Rs 1720 cr by 2012

Mumbai, Aug 28 (UNI) Globus fashion apparel and accessories retail chain has projected its net sales at Rs 1720 crore by the end of the financial year 2012.

The retail chain, with 152 retail outlets across the country, has registered a 35 per cent increase in net sales for FY07 at Rs 145 crore and has aimed at recording an 80 per cent growth annually to to meet the 2012 target.

Speaking to reporters on the sidelines of a function held to launch actor Kareena Kapoor as the company's brand ambassador last evening, Globus vice chairman Akshay Raheja said, ''We are looking at pan India presence across 70 cities over next five years.'' He said the company is willing to develop an icon brand for the youth at an affordable price. The company will make an investment of Rs 800 crore for its expansion plan within next five years, Mr Raheja added.

UNI