Business Daily from THE HINDU group of publications
Saturday, Dec 15, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Dec 15, 2007 ePaper | Mobile/PDA Version |
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Marketing
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Retailing Corporate - Alliances & Joint Ventures Gautier, Ebony ink pact for home adornment stores 
Mr Soulard Dominique, Chairman and Managing Director, Gautier (left), with Mr Manhad Narula, Director, Ebony Retail, at a press conference in the Capital on Friday. Our Bureau New Delhi, Dec. 14 French home furnishing major Gautier is eyeing a lion’s share in the home décor business. The company has inked an agreement with domestic retailer Ebony to set up at least 20 home adornment stores in North and West India with an investment of Rs 120 crore for the next two years. The French company may also look to set up a manufacturing facility in India in the long run, Mr Soulard Dominique, Chairman and Managing Director, Gautier, told Business Line. “Our stores will be destination stores and will not be housed in malls unlike other retail stores. Spread over an area of 20,000 to 40,000 sq ft, these stores will deliver complete range of contemporary home adornment solution,” he said. The joint venture company will be called Ebony Gautier. The French parent will provide expertise and products while Ebony will make financial investment besides providing the retail experience, Mr Lalit Kumar, Chief Executive Officer, Ebony Homes Pvt Ltd, said. Ebony Retail, is the retail arm of infrastructure company DS Construction. “The specialty format stores are gaining ground in India and we are starting this process with our entry in the home adornment verticals,” he said adding the first store will be opened in Noida. It will be expanded to five stores by the end of next year. The stores will sell goods in the home improvement segment, comprising furniture, furnishings and home decor product. “We see a vacant market slot and therefore a clear opportunity in contemporary-styled branded furniture which is internationally benchmarked in terms of design and quality yet provides good value to Indian consumers,” Mr Kumar said. The group is looking at three other speciality formats, in addition to the home improvement segment. These include kids clothing, women’s wear and health and beauty. Gautier has three manufacturing facilities in France. The eco-friendly furniture have been designed keeping the consumer safety in mind, Mr Dominique said.
More Stories on : Retailing | Alliances & Joint Ventures | Interiors & Homes
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