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Danube Home, the home interior products and services company of the Dubai-based diversified Danube Group, has opened its first store in India at the IT hub of Hyderabad.
The retail chain plans to set up 10 stores in the country over the next 4-5 years with an investment of ₹400 crore.
The 60,000 sq ft outlet located in Sarath City Capital Mall, considered amongst biggest malls in the country, is Danube Home’s 21st store globally where over 30,000 home furnishing products will be on offer. The products sold here are sourced from US, Spain, Italy, Turkey, Malaysia among other countries.
The $1.3 billion revenue Danube Group has its presence across construction materials, home furnishing and housing in the Middle east and other locations.
Adel Sajan, Director, Danube Home, said, “The entry in India is a significant step in our global expansion plan and we plan to open at least 10 such stores over the next 5 years and the long term plan is to open at least 35 stores over the next 10 years.”
“Currently, about 25-30 per cent of the products sold in the Indian store at Hyderabad are sourced locally and we plan to increase this in a phased manner. We are looking at sourcing more products from India for our stores located in other parts of the world,” he said.
The brand is known for its quality products and pocket friendly prices across Middle East. The company expects to replicate its success in India by offering its free interior design solutions and installations services. It expects to follow the Hyderabad store with one in Gurugram and other locations and also feels that there is potential for at least 3-4 stores in Hyderabad.
KT Rama Rao, Telangana IT and Industries Minister said, “Hyderabad and Telangana have been attracting a number of companies across various sectors and this was possible due to Ease of Doing business and the investor friendly environment.”
Commenting on Danube foray, Asaduddin Owaisi, Member of Parliament and AIMIM leader, welcomed the company and expressed that Hyderabad would provide the right platform for growth.
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