Dabur to open 350 retail stores at Rs 140cr outlay by 2010

New Delhi, Mar 13 (UNI) Dabur India Ltd today announced its foray into the domestic organised health and beauty retail space with a chain of 350 stores entailing an outlay of Rs 140 crore by 2010.

The company said it will enter the retail space through a wholly-owned subsidiary, H&B Stores Ltd, which is still under incorporation.

''Retail is the next big focus area for Dabur India. H&B Stores Ltd plans to set up 350 retail stores across India in five years and expand it to over 1,000 stores by its tenth year of operation,'' company Chairman V C Burman said.

Dabur India's Board has approved the proposed retail venture. The company is targeting Rs 1,700 crore revenue in five years from the initiative.

''H&B stores expects to start generating profits by the fourth year of operations with revenues exceeding Rs 1,000 crore,'' Dabur India Chief Executive Officer Sunil Duggal said.

More UNI