By IANS,
Chandigarh : Punjab-based textiles major Trident Group Sunday unveiled its designs for the Indian retail market with the launch of its first lifestyle store here.
The Rs.15 billion ($375 million) Trident Group, which had a successful run with its towels brand in retail markets in the US and Europe, also announced plans to open 30 retail stores within one year with an investment of Rs.200 million and to set up a chain of 300 lifestyle stores across the country within three years.
The new retail stores – Trident Homescapes – will initially sell the company’s towel brands and later will offer other home products from bed-sheets to imported designer glasses.
The first lifestyle store was opened here Sunday in the upscale Sector 9 with 2,500-square-feet of showroom space.
“We want to create a niche market in the Indian retail sector for towels and other home products. So far in India, the trend for buying towels like other clothes of various brands is not there,” Trident Group retail head Sugato Bose told IANS.
Towels of various varieties and textures meant for different segments – men, women and children – have been displayed at the new retail outlet here. The range includes bed and bath linen, home accessories and décor.
The next outlet of the group is scheduled to open in Punjab’s industrial hub Ludhiana next week followed by another one in Jalandhar later.
“Since we are Punjab based, we thought it is appropriate to start with our stores here,” Bose said.
“There is an emerging class of consumers in India with refined tastes and quality requirement. We will fulfil their needs with international quality products. It will be a one-stop shop,” the group’s chief executive P.K. Markanday said.