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Mumbai, Dec. 17

Wadhawan Lifestyle Retail Pvt Ltd will open its first exclusive outlet of international brands in Mumbai on December 19 and its second outlet in Delhi on December 26. The company will open five exclusive outlets by March 2008 and has plans to open around 75 outlets in the next five years. It will initially launch global brands such as Ed Hardy, Christian Audigier and Kitson in India. The company will also enter other areas of the luxury segment such as hi-end Luxe Brands, Fashion Café and Winery in the beginning of the next fiscal year. Mr Kapil Wadhawan, Chairman, Wadhawan Holdings Pvt Ltd, said: “We see huge opportunities in the luxury goods and services segment as the Indian market for this segment stands at around Rs 8,000 crore and is expected to grow at a rate of 30 per cent per year over the next five years.” The group will be investing over Rs 500 crore in the next seven years.

— Our Bureau

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