Grasim to set up 120 exclusive stores by 2009 pan-India

New Delhi, May 17 (UNI) Aditya Birla flagship company Grasim Industries Ltd will open 120 exclusive showrooms by 2009.

''Country is witnessing a major retail boom and Grasim does not want to stay away from it. We are coming up with 30 retail showrooms this year, followed by 40 next year and 50 in 2009,'' company's (Textiles Division) President and Unit head S Krishnamoorthy told reporters on the sidelines of a function.

It will invest Rs 2 crore this year on retail branding of the coming 30 stores.

The company's MRP turnover stood at 175 crore last year.

The textile and apparel market will be growing at a rate of 15 per cent by 2010, Mr Krishnamoorthy added.

Meanwhile, Bollywood actor Akshay Kumar was today announced as the new brand ambassador of Grasim's men wear collections.

When asked why Akshay Kumar, Mr Krishnamoorthy replied, ''I think he is a versatile actor and an absolute fit for Grasim.'' While the actor said it was his great privilege to be associated with this brand and feels that Garsim appeals to him as a brand. Grasim Industries at present has 45 exclusive showrooms and a number of outlets across the country.

UNI