Luxor to infuse Rs 75 cr on retail expansion in 3 yrs

New Delhi, May 20 (UNI) Luxor Writing Instruments Ltd will invest Rs 75 crore to open 100 outlets across the country under the brand name 'Luxor Signature' over the next three years.

''We will open 100 such outlets by infusing Rs 75 crore in the next three years. Our target will be the metros and tier II cities,'' Luxor Executive Director Pooja Jain said at the launch of the company's exclusive retail showroom in Noida.

The retail chains will provide stationary items, iPods, card scan machines.

Each outlet, costing Rs 75 lakh, will stock pens ranging from Rs 5 to Rs 40,000 and will have a separate section for kids called ''Planet Happy'', which will later be promoted as a separate brand.

Luxor Chairman and President D K Jain unveiled a limited edition pen with 18 karat gold body, Waterman Man100 Gold.

The pen will be available on request for Rs 4.50 lakh and will be imported from France.

''We also plan to open around 400 franchisee outlets in the coming years. But that will be only after our retail chains are established,'' Mr Jain added.

The company may look at getting into Special Economic Zones (SEZs), he said without divulging further details.

With a market share of 20 per cent, the Luxor group has also diversified into other sectors like hospitality, processed foods, real estate, financial investments and securities.

UNI