Prateek Group launches COUPON in Faridabad

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Parent Category: News and Stories

Posted in: Fashion n Modelling on Tuesday, 14 October 2008 00:00

Published on Monday, 30 November -0001 00:00

Written by Models n Trends

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After the successful launch of its discounted retail mall 'Coupon' in Bangalore, Raipur, Hyderabad and Calicut, Prateek Lifestyle (the retail arm of Prateek Group) announced the latest launch of 'Coupon' in Faridabad.

Coupon at Faridabad is spread across 4 floors covering an area of 35000 square feet and will offer an unparalleled international retailing experience to Faridabad at discounted prices throughout the year. Apart from providing an international shopping experience, consumers will also be able to participate in unique, exciting offers and promotions regularly.

Speaking on the occasion of the launch, Mr. Pradeep Agarwal, Managing Director of Prateek, said, "Faridabad is our fifth store in the country and the first in the NCR region. Our aim is to have a pan India presence and grow rapidly by launching 50 such discount stores across the country. In the next five years nearly 30% of our stores will be in Northern India, and we want to focus our penetration in Tier II and Tier III markets to reach out to maximum customers with the concept of discounted retail space and provide a unique shopping experience for them." 

"With Rs 350 Cr investments in various retail formats, we intend to provide true value to our customers on branded apparel through our strengths in this sphere over the last decade. Out of this Rs 125 – 130Cr will be utilized for the northern tier 2 cities," he added.

The group plans to open Coupon stores in markets like Jallandhar in the near future and is also exploring suitable locations in Lucknow, Ghaziabad, Haryana, Varanasi, Chandigarh, Jaipur and other towns and cities in northern India.

Prateek Lifestyle is one of the largest domestic players in the apparel design, manufacturing and retail spaces. The company introduced Coupon as a unique venture in the discounted retail space offering over 150 of the best brands at unsurpassed discounts in apparels, home decor, footwear and accessories for men, women and kids. Also, Prateek Lifestyle has been providing design, manufacturing and delivery solutions to several leading brands and retailers across the country.

With a sound understanding of the fashion trends and Indian tastes, the company has managed to exploit opportunities in the growing retail space in India.