Formal wear brand Arrow is targeting over 20 percent year-on-year sales growth in the next five years, and plans to open 55 exclusive brand outlets to expand its footprint in tier II and tier III cities. In addition, the company will also open 250 shop-in-shops. Its foray into tier II and tier III markets is one of the company’s big initiatives. At present, there are over 250 Arrow EBOs, out of which 45-50 percent is in top six Indian cities, and into 1,000 shop-in-shops in multi-brands outlets like Shoppers Stop. Opening of 55 new Arrow outlets and 250 shop-in-shops will open up a new business opportunity for PSPs engaging in in-store branding and other related projects.
