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DLF Brands is set to launch multi-brand retail stores to sell international fashion labels under one roof, with plans to open up to five such stores every year.
DLF Brands, a subsidiary of realty major DLF Ltd, currently operates standalone stores for 11 global brands in India, including Armani, Boggi, Alcott, DKNY, Claire and Mothercare. It is also holding talks with other international brands to bring them into India.
"We will soon set up a new multi-brand format to better leverage the portfolio of 11 brands. The first one is set to come up in Delhi before the end of this year. The plan is to open 4-5 such stores each year," DLF Brands Chief Executive Operations and Strategy Dipak Agarwal told PTI.
One multi-brand store spread across 10,000 to 15,000 square feet and would require investment of up to Rs 15 crore, he said, without disclosing the name for the new format.
The company is also planning to enter into beauty and wellness category and enhance presence in home segment.
"We are talking to a few international brands in beauty and wellness segment and also looking to expand in the home segment where we currently have our own brand Pure & Living," Agarwal said.
Commenting on the expansion plans for its existing 11 brands he said: "We will continue to open standalone stores for all the brands that we have at present. The 100th store will be unveiled in the next couple of weeks."
"In the next three years we are looking to double the count," he added without giving investment details.
When asked about the impact of the regulatory changes taking place in the retail sector he said : "Even if 100 per cent FDI is allowed in single brand retail, it will not impact our existing partnerships as these are long term contracts."
Most of the international retailers are clear about their India entry strategy. While some want to enter on their own, many partner with a domestic player who has a better understanding of the Indian market, he added.