By IANS
New Delhi : Brandhouse Retails, the retail arm of apparel firm S. Kumar’s Nationwide Ltd (SKNL), which already retails international luxury brands such as Alfred Dunhill and Escada in India, is planning to launch four new international brands by April this year.
This is part of its expansion, for which the company has invested around Rs.4 billion ($100 million).
“Currently talks are in final stages to bring four new international brands in fashion and accessories segment by April in India,” Tarun Joshi, managing director, Brandhouse Retails, told reporters on the sidelines of a retail conclave here. Joshi, however, refused to name the brands.
The retail meet is being organised by KAS Technopak India Pvt Ltd, a service provider to retailers and suppliers.
“By March 2009, we will have eight luxury stores for the two luxury brands. Besides, we are also bringing into the market a couple of brands from the S. Kumar’s stable.
“By April we will have 400 stores. Currently, 271 stores are running with another 136 stores under development.”
On the funding of the expansion, he said the company has already infused Rs.1.1 billion from ADM Capital, a Hong Kong-based private equity firm.
SKNL retails apparel under the S. Kumars, Reid and Taylor, Belmonte and Carmichael House brands.
The company is planning to enter multi-brand, large-format, discount outlets and expand its total network of stores to 400 by the end of this year, Joshi said.
Brandhouse Retails, which is being de-merged from its parent company, will get listed as a separate entity in the Bombay Stock Exchange (BSE) next month without an initial public offer.