Welspun to introduce foreign brands

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Welspun Retail, the retailing arm of the Goenka-promoted Welspun Group, is planning to introduce international home decor brands in the Indian market.

“Brands including Christie’s from the United Kingdom and Surima from Portugal will be available to our customers within the next six months. Besides, we are also actively looking at acquisitions in the domestic market,” Dipali Goenka, director, Welspun Retail, told the media on the sidelines of the 9th Marketing & Retail Conclave organised by Technopak.

The company is also planning to hive off its retail venture Welspun Retail by next fiscal, as it prepares for a pan-India footprint. “Hiving off the retail operations is under consideration, and we will surely do so in due course of time,” said Goenka.

As part of expansion plans, the company is aiming to establish a pan-India presence by setting up 370 outlets by 2010. The company operates through two formats: WelHome, dealing in value-added products, and Spaces, dealing in high-end home furnishings.

The company is expecting to touch a turnover of Rs 1,000 crore by 2010, while working towards a business of Rs 100 crore in 2008.

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