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Our Bureau

New Delhi , Oct. 27

Mr Subhash Chandra-promoted Essel Group, on Friday, announced its foray into the retail segment with the launch of Gavel Fashions, a wholly owned subsidiary. Gavel Fashions, headquartered in New Delhi, will be a high-end, niche luxury retail segment focussing on international apparel and fashion accessories brands. It will also have an office in Dubai focusing on international business development. Speaking about Gavel Fashions, Mr Gagan Goel, its Chief Executive Officer, said, "The name `Gavel Fashions' has been derived from the word `Gavel', the hammer used by a judge in the court of law to attract the attention of the people present in the court. Gavel Fashions aims to catch the attention of elite personalities by bringing to India the best brands from across the world, engaged in contemporary formal wear, casual wear, fashion wear and fashion accessories. The first brand will be launched by Gavel Fashions in Delhi by end-2006."

Over the next two-three years, Gavel Fashions will launch around 22 niche and highly aspirational brands from various parts of the world in India. The retail chain will open a combination of single and multi-brand stores, depending on the brand and the city of launch. Some of the cities where these stores will be opened include Delhi, Mumbai, Bangalore and Kolkata.

With a targeted turnover of Rs 300 crore in the next three years, Gavel Fashions aims to become a key player in the niche fashion retail industry of the country.

More Stories on : Diversification | Retailing | Readymade Garments | Zee Telefilms Ltd

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