D'Mart to open eight boutique showrooms pan-India

New Delhi, Aug 9 (UNI) With lifestyle brands catching up to the frenzy of providing luxury items, leading retail player D'Mart today said it will open eight new boutique showrooms pan-India with an investment of about Rs eight crore to cater to this segment.

The company will also strengthen its franchisee chain, which already exists in major cities across India. ''The number currently stands at 14 but we will increase the number as and when required,'' said company Chairman K V Rao.

The company will soon set up a large showroom in Faridabad, which will be one of the grandest in the world.

It is also mulling to launch its new product range in tableware, marbleware and silverware. ''We want to enter the corporate gifting sector which has a huge market potential,'' Mr Rao told UNI.

The company will open its showrooms in international locales like London and Dubai as well. ''We already have a stand-alone store in San Francisco and boutique showrooms in New Jersey and Amsterdam. We are also looking toward an international audience for our lifestyle product,'' said Mr Rao.

The company today launched its Lord Balaji idols, which are priced at Rs 1,27,000 and Rs 1,22,000. It also plans to change the way people pray with the launch of an exclusive range of 'puja items'.

''Our turnover stood at 2.5 million dollars and expects the figure to touch six million dollars''.

UNI