Luxor Writing Instruments, present in the Indian retail market with exclusive brand stores and shop-in-shops, is planning to enter the luxury retail space. The company is working on branding of the new venture and plans to set up 15 luxury retail stores in the next three years.
“With the growth of luxury retail space in the country, we are thinking of creating a new brand of exclusive stores that will cater to the executive segment of the society. To begin with, we plan to have at least two stores in Delhi and Mumbai by the end of this fiscal, and take their total to 15 in the next three years,” said Pooja Jain, executive director, Luxor Group.
Besides, the company is also planning to set up luxury stores in cities including Bengaluru, Hyderabad and Kolkata.
The company also plans to diversify its activities by getting into non-stationery consumer segments this year. “Right now we are evaluating options to expand our product offerings beyond stationery to other consumer goods. The idea is to diversify the business into new areas,” informed Jain.