Aditya Birla plans to open 500 stores this year

India’s Aditya Birla Fashion and Retail is set to launch more than 500 stores by the end of the year.

According to reporting in The Economic Times, the firm, which owns the Pantaloons fast-fashion brand, is counting on shifting buyer interest towards its branded clothing despite economic indicators of a lull in consumer spending – and its plans represent three times the company’s normal growth rate. Aditya Birla’s strategy seeks to invigorate spending while speeding up the expansion of exclusive brand outlets, including conversion of some large wholesalers into exclusive brand outlets.

“The general consumption habits are changing, especially in a digitally connected network, when you are seeing a desire for brands and aspiration for better quality products,” said Aditya Birla MD Ashish Dikshit.

“There is a very large movement to buy brands and the opportunity in a country like India will keep emerging from new markets.”

The firm also currently plans to release a line of mass-market traditional ethnic wear, which represents an estimated 30 percent of the overall apparel market in India.