Wadhawan Lifestyle plans to bring global brands into India
Wadhawan Lifestyle Retail today said it is in talks with about 20 global brands to bring them into India as part of its plans to have 3 mn sq ft retail space in the next 3-4 years.
By PTI |
NEW DELHI: Wadhawan Lifestyle Retail today said it is in talks with about 20 global brands to bring them into India as part of its plans to have 3 mn sq ft retail space in the next 3-4 years.
"We are looking at about four verticals, which includes international and luxury brand, integrated departmental store chain, specialty electronics chain and value segment," Wadhawan Lifestyle Retail CEO Vishal Mirchandani told reporters on the sidelines of Pure&Play Retail Summit here.
He said for the international brands, the company is looking at premium mass market brands as Tommy Hilfiger.
"Currently, we are talking to about 20 international brands. There is a huge opportunity in this space," he said.
Wadhawan Lifestyle merchandise global brands like Ed Hardy, Christian Audigier and Kitson.
"We may go for a joint venture or licensing, but in case of joint venture we would look to be the majority partner" Mirchandani said.
Mirchandani, however, declined to reveal the investment size but said it could run up to the tune of Rs 500 crore.
"Our first store is likly to be open within next 6-9 months," he said.
The company plans to have about 7-8 of private levels in different verticals and also looks to have its own specialty home electronics chain.
"Another segment at which we seriously looking at is the value segment. There is a lot of untapped potential which we would like to explore," he said.
"We are looking at about four verticals, which includes international and luxury brand, integrated departmental store chain, specialty electronics chain and value segment," Wadhawan Lifestyle Retail CEO Vishal Mirchandani told reporters on the sidelines of Pure&Play Retail Summit here.
He said for the international brands, the company is looking at premium mass market brands as Tommy Hilfiger.
"Currently, we are talking to about 20 international brands. There is a huge opportunity in this space," he said.
Wadhawan Lifestyle merchandise global brands like Ed Hardy, Christian Audigier and Kitson.
"We may go for a joint venture or licensing, but in case of joint venture we would look to be the majority partner" Mirchandani said.
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The company, in the next 3-4 years, is looking at having about 3 million sq ft retail space, which can translate into 120 stores.Mirchandani, however, declined to reveal the investment size but said it could run up to the tune of Rs 500 crore.
"Our first store is likly to be open within next 6-9 months," he said.
The company plans to have about 7-8 of private levels in different verticals and also looks to have its own specialty home electronics chain.
"Another segment at which we seriously looking at is the value segment. There is a lot of untapped potential which we would like to explore," he said.
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