| The company is awaiting court approval for the demerger plan, under which shareholders are to receive one free Brandhouse share for every five shares of the company. Once approved, the demerger will become effective from January 1 this year. |
| "We will be rolling out 1,200 stores over the next three years. The stores will sell our group's brands, foreign labels that we tie up with and also domestic brands that do not belong to S Kumars," said Nitin Kasliwal, vice chairman and managing director, SKNL. |
| SKNL has entered into an exclusive arrangement with Dunhill, a luxury brand for menswear and accessories. Unveiling the first store today at the Shangri-La Hotel in the capital, Kasliwal said the company would roll out 10 Dunhill outlets over the next five years. Each store requires an investment of around Rs 4 crore. |
| Brandhouse Retails specialises in setting up and managing exclusive brand outlets for SKNL brands - Reid & Taylor, Carmichael House and Belmonte. It is also the exclusive India franchisee for international luxury brands like Dunhill and ESCADA. |
| The company intends to have over 400 stores by the end of this financial year. "We already have over 70 operational shops including two for ESCADA," Kasliwal said. |
| In fact, another Dunhill store was coming up at DLF's Emporio mall at Vasant Kunj, with two more stores, for which locations are being scouted, planned in north and south Mumbai, he said. |
| Mark Newman, regional managing director, Richemont Luxury Asia Pacific, said the company had high expectations from the Indian market. The tie up with Brandhouse Retails is for three years, extendable by a similar period of time. |
| Significantly, the concept store is based on the Dunhill brand's recently revised identity. Richemont's luxury goods interests encompass brands including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill and Montblanc. |
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