Splash Lifestyle Fashion retailer, part of the Dubai based Landmark group opened its 2ndstore in Bangalore [the first one is operational in Hyderabad]. In order to move with the slowdown in economy, all future Splash stores will be opened as a Store in Store.
Mr. Beig of Splash said,
Initially we were looking to setup 15 standalone stores in 19 cities in three years. But days after the opening of Hyderabad store, the market has crashed and footfalls are low. The mood in the market is low and thus we have decided to pursue shop-in-shop model of business.
The company is banking on an aggressive marketing campaign. If we can drive people to our stors then we are confident of converting them into customers. The company has slashed its sales target by 30%.
Splash plans to have 5 stores operational within the next 18 months each getting an investment of $1 mn. Splash caters to Men, Women and Kids.