Out of the seven stores run by DLF Brands, five are still operational and the company does not plan to open new DKNY stores, Timmy Sarna, managing director of DLF Brands told a leading daily. He also said that the DLF Brands does not want to be in the luxury fashion business because scaling it up is difficult, considering that there are not many locations in India to sell luxury fashion apparel.
The company wishes to focus on mass brands and already has profitable businesses like Mothercare, a British retailer of products for children and expectant mothers, which is likely to rake in Rs 300 crore this year. The company plans a growth of Rs 1,000 crore for this brand in the next three years. There are currently 109 Mothercare stores and the company wants to increase the number to 300. As major part of production for Mothercare is now happening in India, its prices are likely to come down.
DLF Brands had also shut down its Boggi Milano stores in India, back in 2014. (KD)
ALCHEMPro News Desk – India
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
