In a MediaBrief exclusive, Deepak Bansal, Director of Cantabil Retail India Ltd, discusses the company’s expanding footprint, particularly following the recent opening of a new store in New Delhi. He speaks about the driving forces behind this rapid expansion and shares insights into future growth plans and international strategies, especially after Cantabil’s entry into Nepal.
Bansal also outlines the consumer trends and demands that have prompted the company’s diversification into the athleisure and footwear categories while highlighting Cantabil’s new format stores.
Revealing the driving force behind Cantabil’s rapid expansion with the crossing of its 550-store mark, Deepak Bansal shares, “We have recently crossed the 550-store mark with the launch of four new stores in New Delhi. The driving forces behind our expansion include a diverse product range, strategic location choices, a strong digital retail presence, and a well-established brand identity. Our commitment to offering a wide variety of clothing options for men, women, and kids, along with activewear and footwear, has significantly broadened our customer base.”
“The new stores in prime locations across Delhi are part of a strategic effort to enhance accessibility and visibility. By situating ourselves in key areas, we ensure that our brand reaches more customers effectively. Alongside our physical stores, we have invested in our online presence through Cantabilshop.com and major e-commerce platforms, adopting an omnichannel approach to reach customers beyond geographical limitations and adapt to changing shopping behaviors,” adds Bansal.
“Our goals are ambitious yet focused”
Disclosing Cantabil’s goals post this milestone, he states, “Our goals are ambitious yet focused. We plan to further expand our store count, targeting Tier II and III cities where there is significant growth potential. This expansion will enhance our market presence and contribute to local economies by creating jobs.
“Additionally, we aim to diversify our product lines further, particularly in athleisure and footwear, responding to market trends and customer preferences. The recent introduction of these categories has been well-received, and we see great potential for growth.”
International growth strategies
Following the company’s entry into Nepal, Bansal shares insights into future expansion plans and international growth strategies. “As we expand beyond our home market, our entry into Nepal marked the beginning of our international journey. We are closely evaluating other South Asian markets, which offer a similar demographic profile and present significant opportunities for retail growth,” he adds.
“Our approach,” he explains, “involves establishing a robust presence in neighboring countries first, focusing on creating brand awareness, understanding local consumer preferences, and optimizing our product offerings to suit each region. In the medium to long term, we aim to explore other international markets in Southeast Asia and the Middle East, where our brand values and product quality can resonate well with emerging consumer demands.”
“We believe that a strategic and phased expansion, combined with strong supply chain and localized marketing efforts, will be the key to our international growth,” affirms Bansal.
Diversification into athleisure and footwear
Bansal explains that one of the primary consumer trends driving the diversification into the athleisure and footwear categories is the shift towards comfort and versatility. He says, “The growing trend for comfort wear has significantly influenced consumer preferences, with more customers seeking versatile clothing that can transition seamlessly from casual to active settings. Athleisure, which blends athletic and leisurewear, aligns perfectly with this demand, allowing us to cater to a broader audience looking for both style and functionality.”
Further, Bansal says, “There has been a noticeable increase in health and fitness awareness among consumers, leading to a higher demand for activewear that not only performs well during physical activities but also looks good in everyday scenarios. By entering the athleisure market, we are positioning ourselves to meet this demand effectively.”
Expanding on how he sees these categories contributing to business growth, Bansal says, “Diversifying into athleisure and footwear is expected to increase our revenue streams. Historically, apparel has accounted for 95% of our revenue; however, we aim to significantly boost our accessories segment, which includes these new categories.”
According to him, “This diversification will not only enhance our product range but also improve overall sales performance in FY25 and beyond. Our store expansion strategy is another key aspect of this growth. We plan to open 80-90 new stores in the upcoming fiscal year, strategically located in tier I and tier II/III cities across India. This expansion will allow us to prominently showcase our new athleisure and footwear lines, driving foot traffic and increasing brand visibility.”
New format stores
Talking about Cantabil’s new format stores, he highlights what makes these stores different from the existing outlets and how they cater to customer needs. “The new Cantabil stores feature a contemporary layout designed to provide a more enjoyable shopping experience. This enhanced layout allows for better product visibility and accessibility, enabling customers to browse through our extensive range of apparel more easily.”
Bansal adds that, “In addition to improving the store environment, the new format also expands our product range. While our traditional stores have always offered clothing for men, women, and kids, the new format stores take this a step further by including a wider variety of categories such as activewear and footwear.”
To wrap up the conversation, he says, “The locations of our new stores are strategically chosen to ensure that we are accessible to a larger customer base. Recent openings in key areas of Delhi, including Moti Nagar, Kamla Nagar, Sagarpur, and Lajpat Nagar, are part of our effort to make fashion more accessible across various demographics.”
“With over 90 stores in the Delhi NCR region alone, our focus is on providing high-quality fashion at accessible prices, understanding that our customers seek value for their money,” concludes Bansal.
