Multi-channel home shopping company Naaptol will set up a total of 150 franchise stores across the country over the next two financial years, a senior company official said today.
The company has already opened four stores through the franchisee route, including launching its first franchise store in Hyderabad today.
"We have planned to open 27 more franchise stores this year and altogether we have planned to set up 150 franchise stores in next two financial years," Naaptol (Business Head) Manish Chaubey told reporters here.
Naaptol has 13 fulfilment centres, he said.
The company reported Rs 628 crore in revenue from commission for 2017-18.
"This financial year we are targetting a 20 per cent increase in revenuefrom commission as compared to last year," he said.
Chaubey further said "We expect the company to break even by the end of this fiscal. We are looking to go for Initial Public Offering (IPO) by 2021-22," he said.
However, he declined to comment on how much amount they planned to raise.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)