Home Retail Ebony enters home adornment format — Ties up with foreign brand

    Ebony enters home adornment format — Ties up with foreign brand

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    Retail, the retailing arm of the , is venturing into home adornments format and will invest over Rs 120 crore for this business in next three years. The company has also tied up with an established foreign brand; the name however has not been disclosed.

    “We are in process of strengthening our retail business through specialty formats. to start with we are concentrating on home adornments format. We have tied up with a foreign company and will soon disclose the name of the brand,” , CEO and director, , told Indiaretailing.

    “We will retail everything related to home and will stock only branded products,” he added.

    The company will open over 20 outlets by 2009, and around 50 by 2011. Each of these stores will have a built-up area of around 20,000 square feet to 40,000 square feet.

    Ebony Retail witnessed revenues of Rs 80 crore in 2006-07 and plans to achieve the Rs 500 crore mark as a result of its foray into specialty retail by end of 2009.

    – Ranjan Kaplsih