RDB Group eyes retail foray

RDB Group, The Rs 1,000 crore company with interests in real estate, tobacco and infrastructure, is foraying into the organised retail business with an estimated investment of Rs 200 crore.

Money was raised through internal accruals, informed company officials at a press conference in Kolkata.

Christened 'Regent Station', the company is looking at setting up 50 shopping malls in West Bengal in three years.

"We are diversifying into retail as this is a high growth segment and can contribute to overall growth of the company," pointed out Anant Kumar Malu, director, Big Space Fashion India Ltd, one of the RDB group of companies.

The stores will range between 20,000 sq ft and 65,000 sq ft.

The company is expecting its retail business to contribute close to 25 per cent to its overall turnover in three years.

It's first shopping mall will be opened in Barasat this month, which will employ close to 60 people. The mall will also house a 2000 sq ft food court and a 1000 sq ft playground.

The mall will have some 75,000 products including footwear, apparel and FMCG products.

"In apparel, we will not stock any known brands, but have outsourced the work to garment manufacturers in Ludhiana, Delhi and Ahmedabad to make apparel for us," said Malu.