Presently the company has 44 stores spread across India over 8.42 lakh square feet of retail space in 28 cities.
Home furnishing retailer HomeTown is looking to expand in Calcutta. The expansion is part of the company’s plan to open 100 stores in the next three years. HomeTown is owned and operated by Praxis Home Retail Limited, an independent listed entity following the demerger from Future Retail in 2017.
“The expansion will be predominantly in tier two cities and also tier one cities. We have 11 stores in the east and four in Calcutta and we are planning at least a couple more in Calcutta. We will be adding more stores in Patna, Ranchi and Raipur where we already have stores,” said Mahesh Shah, Managing Director HomeTown.
He added that the company is scouting for locations which are expected to be finalised soon.
According to the annual report of Praxis, the company clocked a turnover of Rs 703.72 crore for the year ended 31 March 2020 which came down to Rs 378.67 crore for the year ended 31 March 2021 as business was affected by the pandemic.
The company however hopes to make a quick recovery, with its retail store expansion being supported by e-commerce sales.
