Bronet expands India footprint, to invest Rs 200 cr by 2020

Expanding itspresence in India with the launch of its home decor store 'Stories' here, Dubai-based Bronet Group today said it will invest Rs 200 crore in the country by 2020.
"We have ambitious plans for Stories, which is why weare investing Rs 200 crore in phase 1. Our target is to have20 stores by 2020," Bronet Founder and Joint MD Abdul Saheer K P told reporters here.
The group today announced opening of Stories at Indiranagar here, which will be inaugurated on Friday.
Stories is already present in Kozhikode with a 100,000 sq ft store.
The company will also open a store in Kochi in December.

Hyderabad, Indore, Ahmedabad and Chennai will beamong the cities that will be covered under phase 1, company officials said.
Bronet will then be expanding in Middle East and far eastern countries in phase 2, they added.
Dubai-headquartered USD 110 million Bronet Group has presence in retail, trading, IT, telecom and healthcare in West Asia, Middle East, India, China, Honk Kong, Singapore, Malaysia and US.