: Danube Home, a part of Dubai-based Danube group, opened its first store here Thursday.
Spread across 60,000 square feet, the store offers 30,000 affordable home furnishing products sourced from over 20 countries, including from India, a press release said.
The group plans to set up 10 showrooms, a large logistics hub, a transport network and associated facilities over the next five years in India, the press release said.
Director of Danube Home Adel Sajan said in the release that the entry into the Indian market is part of the global expansion plan of the company.
"We are targeting the growing millennial population, middle-class, dual income group and the upwardly mobile professionals," the release quoted Sajan as saying.
Principal secretary of Industries and Commerce and Information Technology Jayesh Ranjan said in the release that Danube selected Hyderabad for opening the first store at an investment of Rs 40crore, and the venture would create 200 new jobs.
"I look forward to Danube opening its next big store in Telangana within the next five years and wish the group success in its expansion plan," the government official said.
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