KSA Technopak consultants for UB retail foray

As part of its plan to enter the retail segment, liquor baron Vijay Mallya-promoted (pictured) $2 bn UB Group has appointed leading research agency KSA Technopak as consultant for conducting a detailed market study.

The group would be focussing on fashion products, accessories, apparels and innerwears using 'Kingfisher' as its brand. The retail venture would be launched by early 2007. "UB Group would be investing heavily into retail sector. The initial investment would be over Rs 500 crore," highly placed sources said.

"We have already started consumer market survey which would be concluded soon. The brand name would be 'Kingfisher'," UB Group chairman Vijay Mallya said. About investments, Mallya said it would be finalised only after the completion of market survey by the consultant.

"The idea is to leverage Kingfisher brand into retail space covering various fashion products and apparels. We have already started selling 'Kingfisher Line' products in Bangalore designed by leading fashion designer Manoviraj Khosla." Girish Shah, head, sales, Kingfisher Airlines, said.

"KSA Technopak's detailed market study would allow us to strengthen our strategy for retail foray and confirm our hypothesis on market behavior", Shah said.