Godrej Lifespace aims Rs 300 cr business by 2010

Kolkata, Sep 6 (UNI) The retailing division of Godrej&Boyce Manufacturing Company Ltd plans to generate Rs 300 crore turnover by 2010 by increasing the number of its lifestyle stores under the ''Lifespace'' brand name to 90 across India.

The company with 50 stores across the country now expects to garner a turnover of Rs 100 crore by the end of the current fiscal, vice-president and business head (retailing) Shyam Motwani said.

''We expect to get 20 per cent of business from tier 2 and 3 cities by 2010,'' Motwani said adding that it has planned an investment of Rs 40 crore in the next three years to open new stores, train manpower and promote its products.

''Our stores presently occupy around 1,50,000 square feet of area. We will add another 3,00,000 square feet of area in three years by opening new stores,'' he said.

The company presently retails home and office furniture, security systems, locks, home accessories and other lifestyle products manufactured by Godrej. It has initiated talks with other companies for retailing personal computers, laptop, digital cameras, kids products, microwaveable containers through its stores.

''We are in talks with large banks for opening ATM centres in our stores. We also have plans to open cafes and coffee bars in our stores to provide the customers a complete experience,'' Motwani said.

The company expects the non-Godrej brands to contribute around 20 per cent of the turnover by 2010, he said.

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