DLF Brands, a division of the real estate major DLF has launched
its first multi-brand retail venture AVE.NEU. It plans to open 25 outlets throughout the country with an investment of Rs 125 crores in the next three years. Plans are to launch 9-10 stores in the next one year. The new stores will come up in places like Mumbai, Pune, Chandigarh, Lucknow and Surat.
The company’s upcoming multi-brand outlets will involve three formats. The regular store with an area of 10,000-15,000 sq. ft; accessory stores and small size stores. They are expected to grow at 30 per cent per annum. Meanwhile, the newly opened AVE.NEU store in Delhi will introduce three formats under the AVE.NEU brand - multi-brand big format stores, discount stores and express formats for accessories.
The products sold through the 15,000 sq. ft. AVE.NEU include apparel, accessories and home products from leading international brands like Boggi Milano, Claire`s, DKNY, Alcott, Sunglass Hut, ELC and Mothercare with these brands the firm has either licensing arrangements or joint venture for the Indian market.
With about 120 standalone stores for 11 global brands across India, DLF Brands formed in 2008 is keen to grow its store count to 170 by the end of this fiscal. According to company’s statistics, its standalone stores have grown by 20 per cent annually. Recently the company opted to discontinue its joint venture with luxury brand Armani, while it is in talks with a cosmetic brand based in Europe for its India entry. On the firm's decision to part ways with Armani, DLF Brands CEO Dipak Agarwal says at this point, it is not possible to scale up luxury brands in India. So at least for the next 3-5 years they would like to concentrate on brands that can be expanded fast in the country.