Varun's retail store in Chennai

Chennai, Jun 17: The Mumbai-based Varun Industries Limited, largest exporter of stainless steel cookware and kitchenware products, today announced its foray into the Indian domestic market by setting up its first ever retail store here.

The exclusive 2,000 sq ft store "Varun Premium Kitchenware and More" will formally be inaugurated tomorrow.

Company Joint Managing Director Kailash Agarwal told reporters here that more than 300 premium ranges of items, including the high quality non-stick cookware, would be available at the store, which would cater to different budgets and lifestyles.

Chennai store would be the largest of the 36 stores to be opened in the next two years, including nine by the end of August this year.

Of the nine stores, four would be in Mumbai, two in Delhi, one each in Pune and Chandigarh, apart from Chennai.

The company would be investing about Rs 20 crore in these 36 stores to come up across the country. ''After a year's time, we will also open it up for franchisees,'' he added.

Stating that the company did not expect substantial revenue from its retail stores in the first year, Mr Agarwal said ''we will establish Varun as a brand among the people, because we have not sold in India. I hope this to take shape and get sizeable amount of market share after two to three years''.

UNI