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Emaar-SRK to exit retail biz: Reports

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Dubai-based real estate giant Emaar and Bollywood star Shah Rukh Khan (SRK) are close to selling their highstreet retail distribution company Aryan Lifestyle to Bengaluru-based Primus Retail, reports The Economic Times.

Aryan Lifestyle operates around 45 exclusive stores for brands like Tommy Hilfiger, Nike and Tag Heuer in the country.

Meanwhile the deal size has not yet been ascertained.

The transaction with Primus Retail is likely to be completed in the next two weeks, aaded the report quoting a Primus official

Primus Retail already manages stores for Levi’s and Adidas, apart from managing the distribution for brands like Disney. It acquired Weekender brand from Gokaldas Images two years ago and manages a retail portfolio of around 250 stores, nationally.

— IndiaRetailing Bureau

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