Business Daily from THE HINDU group of publications
Wednesday, Mar 14, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Mar 14, 2007 ePaper |
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Corporate
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Outlook Marketing - Retailing
Our Bureau
New Delhi March 13 Dabur India Ltd on Tuesday said that it would invest Rs 140 crore by 2010 for its maiden retail venture under the health and beauty format, through its wholly owned subsidiary, H&B Stores Ltd. "Retail is the next big focus area for Dabur India. H&B Stores Ltd plans to set up 350 franchisee owned retail stores across India in five years and expand it to over 1,000 stores by the tenth year of its operation," said Mr V.C. Burman, Chairman, Dabur India Ltd. The company, which announced the decision of its retail foray after approval from its board of directors, plans to set up 1,500-6,000 sq. ft stores selling products ranging from personal care, cosmetics, baby care to over-the-counter drugs. The store roll out is to begin by the middle of the next fiscal April 2007-08, in metros, Tier-1 cities and malls. "The company recognised a clear need to fill the gap that exists in the health and beauty retail segment in India, thereby enabling Dabur to have an early mover advantage. The retail venture would be run under a separate brand name, which will be decided in due course. H&B Stores expects to start generating profits by the fourth year of operations with revenues exceeding Rs 1,000 crore," said Mr. Sunil Duggal, Chief Executive Officer, Dabur India Ltd.
To sell other brands
Besides its own products under the segment, Dabur will also retail other brands. Negotiations for tie-ups will begin once the top management team is in place. Three senior professionals and experts from the global retail industry have been roped in to drive the company's retail foray. "Organised retail, which now accounts for only 3 per cent of the total retail market in India, has tremendous growth potential in the fast expanding economy," said Mr P.D. Narang, Group Director-Corporate Affairs, Dabur India Ltd.
More Stories on : Outlook | Retailing | Dabur India Ltd | Personal Products
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