Financial Daily from THE HINDU group of publications
Thursday, May 04, 2006
Financial Daily from THE HINDU group of publications Thursday, May 04, 2006 |
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Marketing
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Strategy Lifestyle co Magppie India to expand Our Bureau
New Delhi , May 3 Premium lifestyle home décor company Magppie India has charted out its expansion plans. The company, which offers a wide range of stainless steel products including ice buckets, cocktail shakers, wine sets, salad bowls, and cutlery, plans to open nine exclusive stores by the year-end. Its stores will be located in cities such as Ahmedabad, Bangalore, Chandigarh and Jaipur. The expansion will entail an investment of Rs 25 crore. Mr Vinod Jain, Director of Magppie India said: "We have lined up around Rs 25 crore for our expansion plans of which we have earmarked Rs 5 crore for marketing our brand." Most of the new outlets will be opened in upcoming malls, Mr Jain said. The company has a presence in various multi-brand retail outlets such as Shoppers' Stop, Ebony, Lifestyle, Bombay Store, and Westside. It also sells its products to hotel chains including the ITC, Taj, Hyatt, Park Hotels and other companies including Seagram, Bacardi and Cargill Foods.
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