Luxor to diversify product portfolio

With the rollout of its retail outlet chain Signature, Luxor Writing Instruments is diversifying its product portfolio beyond writing instruments.

The company has signed an agreement with Apple to retail i-Pod and related accessories through its outlets. It also has exclusive licensee agreements with the US-based Happy Planet brand of kids' products.

Apart from this, the retail stores will also sell exclusive Leather and Celebrations lines from Parker which includes accessories such as key chains and visiting card holders, and also premium range of writing instruments from Parker and Waterman, priced between Rs 1,000 and Rs 50,000.

The company has also extended the Luxor brand to stationery and office products such as files and CD holders. The Planet Happy range includes colouring books and educational games for kids apart from the hobby packs.

Pooja Jain, director, Luxor Group, said the company plans 120 Signature outlets in the next four years at an investment ofaround Rs 100 crore.

"The format may vary slightly depending upon the location of the store, but we will focus on the overall attitude, service and experience of the store," said Jain. The stores will target both the premium and the economy end of the market, offering both utility brands as well as premium products aimed at corporates, said Jain.

The Rs 300 crore company expects its retail venture to contribute 15-20 per cent of its turnover after three years.