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| Ebony Gautier to invest Rs 100 cr for expansion |
| Press Trust of India / New Delhi Aug 26, 2009, 10:22 IST |
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Home furnishing retail chain Ebony Gautier is planning to invest Rs 100 crore over the next three years to expand its retail business and set up 20 large format speciality outlets across the country.
The company is looking to expand its mid-segment product portfolio as part of the plan to increase footprints in the estimated Rs 25,000-crore Indian furniture market.
"We are planning to invest Rs 100 crore by 2011-12 to expand the chain. Our aim is to open 20 large format stores across the country during that period," Ebony Gautier Chief Executive Officer K A Parameshwaran said.
He said the investments will come from the company's internal accrual.
"During the first phase over next 12 months, we will open 10 outlets in major cities in the North and South and then go for the next phase where 10 more stores would be opened in the East and West," Parameshwaran said.
The DS Constructions Group subsidiary, which is the exclusive distributor in the South Asian region for France-based furniture major Gautier, currently operates two large format speciality outlets is Delhi NCR.
"We are moving into the mid-market segment with the latest collection from Gautier's line. This is intended to leverage the market which is becoming more and more organised," he said.
DS Constructions launched the Ebony Gautier chain in 2007 after entering into a distribution tie-up with France-based Gautier.
Of the Rs 25,000-crore Indian furniture market, only around 10 per cent comes under the branded organised segment.
The company would be bringing in new medium priced ranges in the bed, living, dining and home office segments from Gautier's facility in France.
Ebony Gautier imports its entire collection from France. Its products are available at a price range of Rs 12,500 to Rs 1.5 lakh.
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