Evok by Hindware to invest Rs 250 crore for expansion

NEW DELHI: Hindware group promoted retail chain Evok, which deals with home interior solutions, on Wednesday said it will invest Rs 250 crore for expanding its retail presence in key markets by 2014-15. The company said it hopes to post a turnover of Rs 400 crore by then, adding that its other targets included setting up 8-10 mega home interiors stores by end of the current fiscal.

DK Jairath, CEO of Hindware Home Retail CEO, wholly-owned subsidiary of HSIL, said: “Evok is now expanding its national footprint with the launch of mega stores… we have rigorous expansion plans in the home interiors retail sector.” He said the company is investing in supply chain infrastructure and operating efficiencies to support its pan-India business operations. Jairath was speaking at the launch of the chain’s 17th store in the country.

The company claimed it has leadership position in the organised home interiors retail market in north India. It said its expansion plans include setting up stores in metros and tier-1 cities including Chennai, Bangalore, Hyderabad, Coimbatore, Mumbai, Pune, Ahmedabad and Surat. Hindware Home Retail forayed in the modern retail sector with the home interiors specialty business in 2008.