Prateek Group to invest 350 cr in retail

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Hyderabad, Sep 4 (UNI) Prateek Lifestyle, the retail arm of Prateek Group, today announced the launch of its discount mall 'Coupon' here and plans to start 50 such malls across the country with Rs 350-crore investment over the next five years.

Commenting on the launch of 'Coupon' here, Mr Pradeep Agarwal, Company Managing Director, said, "Hyderabad is an important market for us and with this launch, we aim to expand our presence across India by setting up 50 such discounted malls.

"We also plan to expand rapidly throughout the country and target Tier-II and Tier-III markets and increase visibility in cities like Calicut, Faridabad, Ghaziabad and Jallandhar.

"With Rs 350 Cr crore investments in various retail formats, we intend to provide true value to our customers on branded apparel through our strengths in this sphere over the last decade.

The first store was launched in Bangalore in June 2007. On the anvil are plans for entering other apparel verticals during this fiscal.

Prateek has already entered the kid's wear segment with the launch of European kidswear brand Kanz in India, company release said here.

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