DLF to enter home furnishing

Monday, 07 March 2011

DLF Brands, part of the real estate company DLF, is venturing into the home furnishing segment. It aims to launch 30 home solution stores under the brand name Pure Home + Living in the next three years with an investment of Rs 200 crores. So far, most of the company’s retail operations have been either through franchisees or joint ventures. Pure Home+Living is targeting customers from the middle and the premium classes. The brand has facilities in Moradabad, Ferozabad and Jaipur. The first Pure Home+Living store has been opened at DLF Place Mall in Delhi. It covers an area of 20,000 sq. ft. The company plans to set up another five to six stores in Delhi and Mumbai each and three in Bangalore. The company has already finalized 11 locations in these cities, of which two are DLF malls and nine non-DLF malls, including Infinity Mall, Market City Mall and Phoenix Mall. The brand plans to enter cities like Hyderabad, Chennai and Pune and tap international markets like West Asia, South Asia and Europe.

With its expansion plans in place, the company expects a turnover of Rs 200 to 300 crores in two years. The realty firm is also looking at investing in several marketing and brand-building initiatives. It has partnerships and joint ventures with various global luxury brands, including Mothercare, Boggi Milano, Sunglass Hut and Ferragamo. Meanwhile, Italian fashion brand Alcott that had inked a franchise agreement with DLF Brands to enter India in 2008 is mulling to convert its partnership into a joint venture, where DLF will have the majority shareholding and Alcott will be the minority partner.