Mumbai: Leading Textiles maker Alok Industries Ltd is all set to invest Rs 150 crore to open 500 new stores by the 2010.

Speaking to mediapersons here on friday, Alok Industries Vice President (Domestic Business) Umang Garg said, “We plan to invest Rs 150 crore over the next three years to expand our retail store network under the brand `H&A'. Presently, we have 35 stores--we intend to scale up our presence to 500 stores by 2010.”

With an eye on property and people costs, the company is focusing its strategy in Tier II and III cities. 

The company also plans to set up an ambitious target of getting 10% of its revenue from retail by 2011, which would make it a Rs 300 crore plus business, up from Rs 6.5 crore today.