Goldiam International Lines Up 200 Stores To Ramp Up India Presence
Goldiam International MD Bhansali added that stable cash flow coming from the company's B2B operation in the US is aiding investments in brand and retail stores in India.
Goldiam International Ltd. aims to expand its store fleet to around 150–200 within the next three to five years. Speaking to NDTV Profit, the company’s Managing Director, Anmol Bhansali, said that they are looking to add 20 to 25 stores, predominantly in three to four metro regions, by the end of the calendar year 2025.
“We have plans to open 20 to 25 stores in the calendar year 2025, not FY25, which is dominant and focussed in all 3-4 metro regions of India,” he said.
Bhansali added that stable cash flow coming from the company's B2B operation in the US is aiding investments in brands and retail stores in India. In the US, Goldiam primarily caters to middle- to premium-income retailers.
“That (support from the US business) is allowing us to invest in a brand and a retail store in India," he explained.
"We have plans to enhance the store fleet to 150 to 200 stores within 3 to 5 years. Again, that will be pulled in as a result of the first increase in COCO (Company Owned, Company Operated) stalls, but down the road, the next couple of calendar years, opening up to franchises as well. Today, 100% of all our plans are COCO stalls and every fleet expansion that we are currently looking at will be undertaken by equity at Goldiam itself," Bhansali mentioned.
When asked about where he plans to get the funds for this store expansion, Anmol Bhansali said that the company is yet to discuss the long-term plans. However, for FY25, the funding for opening stores in 2025 will most likely be done through internal accruals.
"At the moment there are no discussions. For this calendar year, we will most likely be looking at internal accruals unless we have an outstanding opportunity available to us. It's dependent on what the board sees value being available in and then the performance of Origem, how we want to fuel its growth and how fast we want to fuel its growth to take it further," he added.
Shares of Goldiam International ended Friday's trade 2.25% lower at Rs 393.85. In comparison, the benchmark Nifty 50 closed 0.51% lower at 22,795.90 points.
