Retail management subsidiary of KP Singh-led real estate major DLF, DLF Brands, is planning a major expansion. In a new development, the company unveiled its aim to have 600 stores by 2012-13 with an investment of Rs 7.5 billion. Further, the company also plans to bring around 15 international labels in the country in next five years.
“We presently have 11 stores of seven foreign brands in Delhi, of which four are JVs. We will be opening another 40-50 stores across the country by end of 2009 and plan to take the total number of stores to 600 by 2012-13,” said Kelvin Coyle, managing director, DLF Brands.
DLF Brands has formed joint ventures with Italian menswear brand Boggi and Italian luggage brand Piquadro. It has franchise agreement with Italian apparel and accesories brands Alcott, Sia Home Fashion of France and leading sunglass retailer Sun Glass Hut.
“The company will need around Rs 2,000-2,500 for each square feet of retail space and the total retail space would be of 2.5 lakh square feet,” Coyle said.
— IndiaRetailing Bureau