Financial Daily from THE HINDU group of publications
Tuesday, Nov 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 01, 2005 |
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Marketing
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Retailing Magpie to expand with exclusive stores Ajita Shashidhar
Mumbai , Oct. 31 STAINLESS STEEL lifestyle brand Magpie is looking at expanding its retail presence through stand-alone stores. The company recently opened its first store in Ahmedabad and will open outlets in Bangalore, Chandigarh and Delhi by December this year. Mr Arun Garg, Head, Magpie, told Business Line that the company plans to open 20 stores in the next 18 months through a network of franchisees. "After Ahmedabad, Bangalore, Chandigarh and Delhi, we will look at Mumbai, Hyderabad and Chennai." Magpie, which has been exporting stainless steel boutique products since 1973, entered the retail market in the year 2000, and has a presence in 23 cities through various large-format retail stores. Mr Garg said that the company will be shortly launching furniture and artefacts in stainless steel. Also on the cards is the launch of fashion jewellery. "Stainless steel as a fashion category is fast evolving. In India, we have created the category and the product line and the segment has done substantially well," said Mr Garg. Magpie, which started off with the manufacture of pure stainless steel kitchen and bathroom accessories, has also started making fusion products such as stainless steel blended with glass. The company has a production unit in Sonepat. Mr Garg said that with its foray into stand-alone retail stores, he expects double-digit growth for the company.
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