Benetton to open & renovate 50-60 stores; to identify 35 stores as premium ones

Italian clothing and accessories brand Benetton plans to open 30-35 new stores and to renovate 30-35 stores as per their latest store design concept, On Canvas. With the expansion, Benetton will also close down a few non-profitable stores in metros and tier II cities. The renovation of identified stores will begin region-wise from last quarter of this fiscal. Animesh Ikshit, Vice President – Projects & VM, Benetton India, told Retail4growth, “We have targeted 60-70 On Canvas stores , out of which 50% will be renovated while the rest 50% will be new stores. Most of the new stores will open in Grade A and B towns. As multichannel is giving us business, the need of offering store experiences becomes paramount for us as a brand.” Amongst 360 EBOs in India today, Benetton treats 5 stores as premium ones in terms of size and premium-ness. The brand is in the process of identifying 35 such store under the premium canopy. “These stores will showcase no generic windows and will have at least 14 window changes a year,” Ikshit specified.

The brand is also planning to take in-store digital interfaces to the next level. “Today, we only consider video walls as digital element. As analytics play an important role in e-commerce, digital interfaces should be able to provide that kind of engagement and returns. However, in India it’s still in a nascent stage and take at least a few years to make a debut here,” Ikshit added.