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| DLF Brands plans 600 stores in five years |
| Press Trust of India / New Delhi Dec 18, 2008, 16:55 IST |
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DLF Brands, the retail management subsidiary of real estate firm DLF, is planning a major expansion with an aim to have 600 stores and bring around 15 international labels in the country by 2012-13, which could entail an investment of Rs 750 crore.
"We presently have 11 stores of seven foreign brands in Delhi, of which four are JVs. We will be opening another 40-50 stores across the country by end of 2009 and plan to take the total number of stores to 600 by 2012-13," DLF Brands Managing Director Kelvin Coyle told reporters here.
The company, which this year formed joint ventures with Armani and Ferragamo, has now brought five more brands, including four from Italy and one from France, and talks are on with other companies.
"Among the five new brands, we have formed JVs with men's wear brand Boggi and luggage brand Piquadro, while we have partnership with sunglass speciality retailer Sunglass Hut, French home decor firm Sia Home and Italian apparel brand Alcott. We hope to have a total of 15-16 brands over the next five years, including three to five luxury brands and the rest premium ones," he said.
When asked about the investments, he declined to comment.
"The company will need around Rs 2,000-2,500 for each square feet of retail space and the total retail space would be of 2.5 lakh square feet," Coyle said.
A company official, who did not wished to be named, said the investments could be to the tune of Rs 750 crore.
Coyle said the 15 foreign brands could be brought through joint ventures or strategic partnerships as DLF Brands aims to achieve a sales volume of $1 billion in the Indian market within the next five years.
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