With an opening of 35,000 square feet ‘@home’ store, Nilkamal Group marks its entry in the large-format store business.
Located in Marathahalli in Bengaluru, the three-storied store houses a collection of products from brands including Pergo, Eglo, Luminarc, Crystal Darque, Corelle, Portico, Identiti, Spaces, Sleek Kitchens, Adipa, FnS and Mangrove.
Addressing media, Hiten V Parekh, executive director of Nilkamal, said: “With increasing disposable incomes and paucity of leisure time, consumers no longer have the luxury of time to buy raw materials and supervise the carpenter to get furniture made for their homes. Recognising this need, @home stores are conceptualised with an international retail format.”
“We are actually trying to meet an unaddressed need of the Indian consumer. At the same time, our policy is to tap the untouched segment and potential business points of the industry,” says Manish V Parekh, director of Nilkamal.
The company plans to invest around Rs 150 crore in retail ventures over the next three years, and is eyeing revenue of more than Rs 650 crore.
Presently, the company operates around 15 stores all over India and is planning to enter the eastern region by opening a 22,000 square feet store in Kolkata.