Gitanjali Lifestyle, a wholly owned subsidiary of the Rs 3,500-crore Gitanjali Group, is planning to make a big splash in the luxury retail market. The company intends to enter lifestyle retailing aspects through its 7 different formats - Just Cuts (salon), Greggio (Silverware), Gitanjali Lifestyle, Bezel (watches), Gitanjali Jewellery, Gitanjali Fashion and Gitanjali Malls - over the next 2 and a half years. The company is aiming to open 200 lifestyle outlets in metro and mini-metro cities.
‘While the stores will be spread over an area of 5,000 sq ft to 15,000 sq ft area, the luxury mall will come over an area of 80,000 sq ft to 1,50,000 sq ft. We will be spending around Rs 150 crores overall, which will be sourced through a mix of internal accruals and debt,’ Gaurav Marya, managing director, Gitanjali Lifestyle told SundayET. More.
No comments yet.