Ebony eyes specialty retailing
Ebony Retail, part of the infrastructure major DS Constructions, which operates a chain of department stores, is looking at entering specialty retailing.
By Mayur Shekhar Jha, TNN |
NEW DELHI: Ebony Retail, part of the infrastructure major DS Constructions, which operates a chain of department stores, is looking at entering specialty retailing. The group will launch its first specialty format in the home improvement segment. It will also look at other formats such as kids clothing, women’s wear, health and beauty.
Interestingly, Ebony was unable to break even till about six to eight months ago and the promoters were reportedly looking at various options to raise funds for the business. “There has been a major restructuring since then, and we are now in a very comfortable position to undertake an aggressive expansion,” Ebony Retail CEO and director Lalit Kumar told ET.
As part of the restructuring exercise, there will be a single holding company for the entire retail business. All the four specialty formats have been hived off as separate profit and loss centres.
“There will be one foreign partner in all these formats. We are close to signing up deals with some well-known chains,” Mr Kumar said. The company is looking at five formats by the end of 2008, and has earmarked an investment of over Rs 120 crore for the expansion. These stores will be spread over 20,000-40,000 sq ft.
Meanwhile, Ebony is giving final touches to the first of its specialty stores, in the home improvement segment, comprising furniture, furnishings and home decor products.
Interestingly, Ebony was unable to break even till about six to eight months ago and the promoters were reportedly looking at various options to raise funds for the business. “There has been a major restructuring since then, and we are now in a very comfortable position to undertake an aggressive expansion,” Ebony Retail CEO and director Lalit Kumar told ET.
As part of the restructuring exercise, there will be a single holding company for the entire retail business. All the four specialty formats have been hived off as separate profit and loss centres.
“There will be one foreign partner in all these formats. We are close to signing up deals with some well-known chains,” Mr Kumar said. The company is looking at five formats by the end of 2008, and has earmarked an investment of over Rs 120 crore for the expansion. These stores will be spread over 20,000-40,000 sq ft.
Meanwhile, Ebony is giving final touches to the first of its specialty stores, in the home improvement segment, comprising furniture, furnishings and home decor products.
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At present, Ebony operates a chain of six department stores in Delhi, Noida, Chandigarh, Jullandhar and Amritsar. Start a SIP with as low as ₹500 with ET Money App!
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