Home Retail SVIL to open 300 stores, invest Rs 4 bn

    SVIL to open 300 stores, invest Rs 4 bn

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    Marble retail and manufacturing arm of Delhi-based , , as part of an initiative to strengthen presence across the country, has planned to open 300 retail stores in next two years. The proposed plan will witness the company investing around Rs 4 billion. However, the company also expects to have an annual turnover of Rs 5 billion within the next three years.

    Speaking on the occasion of a retail extravaganza organised by the government of Punjab, , assistant vice president – sales – Floriana Group, said, “We have already opened exclusive showrooms of our retail chain ‘Cafi Floriana’ in cities including Delhi, Mumbai, Bengaluru and Kolkata and target opening these 300 new stores by the next two years. We also expect a turnover of Rs 500 crore (Rs 5 billion) within the next three years.”

    Further, the group plans to open 10-12 more stores in Punjab in the cities including Chandigarh, Patiala, Ambala, Amritsar and Barnala. “The group also plans to introduce a first of its kind pre-polished cut to size range of marble in their stores with distinct identity to compete with the world leaders, including the Italian marble industry,” said R Sareen, MD, Froriana Group on the occasion.