Luxor Writing Instruments Pvt Ltd (LWIL), which operates the Luxor Signature brand of stores, has focussed on introducing two new verticals of retail. Branded as High Life and Luxor Colors, the stores will retail luxury and kids products respectively.
Speaking at the launch of their Hyderabad store, Pooja Jain, executive director, LWIL, said the company plans to launch Luxor Colors by next fiscal. “The idea of the company is to invest close to Rs 70 crore and open around 100 stores by fiscal 2012-end.” she informed.
“The High Life store, the first of which will come up in Delhi by November-December, will offer men’s accessories, jewellery and all top-end products targeted towards gifting,” she added.
The company will also add more product categories to the existing portfolio of Signature stores. “The Signature stores, apart from offering writing instruments, will also have music and travel accessories and premium stationery,” added Jain.
Jain further informed that the comopany is also looking at tie-ups with other retail majors to promote the shop-in-shop concept. LWIL this year expects its revenues to touch Rs 250 crore, against Rs 215 crore last year. It expects the export revenues to touch Rs 100 crore in the next two years from the current Rs 60 crore.
With the inauguration of the Hyderabad store, the company currently operates 13 Luxor Signature stores and expects to add around 25 by the year end.