| Hindustan Sanitaryware to enter retail biz |
| BS Reporter / Mumbai January 21, 2008 |
| Hindustan Sanitaryware & Industries (HSIL) has announced that the company was entering the organized retail sector by incorporating Hindware Home Retail Private (HHRL) as a subsidiary of HSIL. HSIL will invest Rs 250 crore over the next five years in home interiors specialty business. The company will establish 50 large format company-operated specialty destination stores across the country, with 3 different formats covering living, kitchen and bath domains, in sizes ranging from 8000 sq.ft. to 30,000 sq. ft. The products will be launched under the new retail brand 'Evok' and will focus on the lower mid-segment to mid-upper segment consumer group. The pilot flagship stores will shortly come up in the National Capital Region (NCR) and number of stores will eventually be scaled up to a pan-India retail footprint of 1.2 million sq.ft. with target revenue turnover of Rs 400 crore over the next 5 years. "The core vision of HHRL is to be first choice partner of customers aspiring for value for style home interior solutions in living, kitchen and bath domains, |
