BackDLF to invest over ₹200 cr to set up new stores in 2-3 yrs
DLF to invest over ₹200 cr to set up new stores in 2-3 yrs
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New Delhi: DLF Brands, a part of realty giant DLF, on Wednesday said it will invest over ₹ 200 crore in opening retail outlets of various brands across the country in the next 2-3 years.
The company on Wednesday opened the first outlet of its flagship home decor and accessories brand ‘Pure Home + Living’ in the National Capital.
“Our target is to open 20 stores of ‘Pure´ in the next 30 months. For this we will be investing about ₹ 100 crore... Usually one store needs an investment of ₹ 4-5 crore," DLF Brands vice chairman Timmy Sarna told PTI.
The company will set up nine showrooms of the brand in the next 12 months in various cities, including Bangalore, Mumbai, Pune, Chennai, Hyderabad and Chandigarh, he added.
“We are expecting ₹ 15 crore annual sales turnover from each store after about one year of operations... Our target is to have ₹ 200-300 crore sales from our this new initiative in the next 3-4 years," Sarna said.
‘Pure Home + Living’ will offer a range of products such as furnitures, table, chairs, lamps, mirrors and crockery with prices going up to about ₹ 60,000.
Besides, Sarna said the company will invest ₹ 40-50 crore every year to increase the presence of retail stores of various international brands across the country.
“We will open 70 stores of various brands, including some new ones, during next fiscal. We are talking to some international brands at present to bring them into the country," he added.
Currently DLF Brands operates around 60 outlets of various brands, including Mothercare, Sunglass Hut, Boggi Milano and DKNY, by forming joint ventures with them.
The company, which is a wholly owned subsidiary of DLF, is expecting its sales turnover to increase by three-fold to ₹ 300 crore during 2011-12 from ₹ 100 crore in the ongoing fiscal, Sarna said.
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