Bangalore, Nov 6 (UNI) UB CITY-The Collection, the country's largest and the first luxury retail outlet will come up at the UB City, the famous landmark here built by Vijay Mallya-owned UB Group.
According to Irfan Razak, CMD of Prestige Group, which jointly developed the skyscraper with the UB Group said the luxury retail market, which was still at the nascent stage in India and the unveiling of 'UB City - The Collection' would open a new vista into the sector.
Speaking to newspersons here today, he said the Retail market, which accounts for over Rs 1,500 crore, would grow at more than 20 per cent. ''India's retail market is definitely ready for 'UB City - The Collection' type of luxury retail outlets and everything it brings along, in terms of fashion, lifestyle and entertainment,'' he said.
The UB Group and The Prestige group had invested over Rs 300 crore into the structure excluding the cost of interiors.
He said the retail outlet would be a home to world-renowned designers and boutiques as well as up-market names such as Louis Vuitton, Gucci, Fendi, Dunhill, Canali, Mont Blanc, Van Cleef&Arpels, Zenga, Kemaya, Rolex and Omega among others.
Announcing the tie-up with Louis Vuitton, Shashikanth CEO UB Global said the entry of Vuitton store offered handbags, suitcases, a wider range of accessories, textile products and leather goods.
Tikka Shatrujit Singh, advisor to the Chairman Louis Vuitton said this would be the brand's first store in the city and was scheduled to open in the first quarter of 2008.