{"id":3356,"date":"2014-01-30T08:48:15","date_gmt":"2014-01-30T08:48:15","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=3356"},"modified":"2014-01-30T13:03:10","modified_gmt":"2014-01-30T13:03:10","slug":"evok-aims-rs-200-cr-revenues-2015-expansion","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/evok-aims-rs-200-cr-revenues-2015-expansion\/","title":{"rendered":"Evok aims Rs 200-cr revenues by 2015 through expansion"},"content":{"rendered":"
\"Evok<\/a>

Evok Expansion<\/p><\/div>\n

Home and interior decor firm Hindware Home<\/strong> Retail<\/a><\/strong> Ltd, which has an interior decor store chain under the brand name ‘Evok’, is aiming to have a turnover of Rs 200 crore by the end of fiscal 2014-15.<\/p>\n

HHRL, which is a subsidiary of HSIL also plans to expand total numbers of stores to 35 across the country from its existing 17, said Evok COO Ajay Seth.<\/p>\n

“By the end of fiscal 2014-15, we are targeting to have a turnover of around Rs 200 crore. We would also increase our presence to 35 locations from the present 17,” said Ajay Seth to PTI.<\/p>\n

Out of that 10 to 15 stores would be on the franchise business<\/a><\/strong> model which would sell modular kitchen and modular wardrobes and rest would be the company owned.<\/p>\n

Moreover, the company would also invest around Rs 35 crore in capex for expansion of the chain, he added.<\/p>\n

The company reported turnover of Rs 80 crore in last fiscal. The company expects that the turnover of financial year 2013-14 would be between Rs 125 to Rs 135 crore.<\/p>\n

Its main business includes living solutions, modular kitchens and wardrobes and entertainment solutions.<\/p>\n

“We are planning to expand in the Western and Eastern region. The company would soon have a stores in Patna, Kolkata and Guwahati next financial year,” he said, adding that in the first quarter of 2014-15, Evok would open stores at Ahmedabad and Noida.<\/p>\n

According to Seth, “Evok is targeting only the premium segment of the buyers and not from the luxury segment. Our customer bases includes urban, semi urban and middle class families.”<\/p>\n

The company also plans to expand in tier 2 and tier 3 cities. As per its future outlook, tier 1 stores would be company owned, while stores in tier 2 and below would be on the franchise business<\/a><\/strong> model.<\/p>\n

“For next five years we have a target of adding 10-15 stores every year, in which 5 to 6 would be company owned and rest would be on franchise model,” Seth said.<\/p>\n

EVOK<\/strong> has 17 stores pan India in which 15 are large format stores with floor area of 10,000 sq ft onwards and two small format stores.<\/p>\n

The company sources its furniture from globally from Malaysia, China, Europe and India and modular kitchens from Europe and domestic suppliers.
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