New Delhi, Gems and jewellery major Gitanjali Group is close to tying up with a leading Australian health and beauty retail chain to introduce it in India.
With its foray into healthcare retail, Gitanjali would join the ranks of FMCG major Dabur and Fortis HealthWorld, the new entrants in the health and wellness retail space.
While Fortis HealthWorld has already begun rolling out its stores across Delhi-NCR , Dabur recently announced its retail foray through a new subsidiary , H&B Stores Ltd, which plans to set up 350 stores in the next five years.
With an investment of Rs. 100 crore, the company will establish retail stores across the country and will acquire international brands which will be sold through the "Luxury Connexions (Lx)" outlets.
Gitanjali Group is expected to sign a franchisee agreement with the $80-million Australian retail chain in another week or two, sources said. The chain is learnt to have a presence in New Zealand, too. Gitanjali chairman Mehul Choksi declined comment on the tie-up.
The Geetanjali group plans to establish luxury malls in eight leading cities. The first store will open in Hyderabad followed by Mumbai, Bangalore, Delhi, Kolkata, Ludhiana, Chandigarh and Chennai. These will house all global brands covering world-class fashion stores, fine-dine restaurants and spa's.With wedding and luxury goods as the focus, these malls would have premium jewellery, apparel, accessories , fine dining and gifting brands.
Luxury Connexions has finalised talks with watch brand Saint Honore and leading jewellery brands Stefan Hafner and Iosi Scavia to be part of its luxury malls. The group’s own brands like Nakshatra, D’ – damas, Asmi and Sangini would also be retailed at outlets inside the malls. Gitanjali would launch a high-end collection under the brands D’damas, Asmi and Sangini, available only in its luxury malls.
Apart from jewellery brands, it is also in talks with leading apparel brands in Denmark and the UK for its retail venture. The Indian luxury retail market is estimated to be about USD 500 million. The Group is also in talks with a couple of US fast food chains to become their franchisee in India.
The group is also learnt to be in talks with a couple of US fast food chains to become their franchisee in India. Mr Choksi said that fine dining would be part of Luxury Connexions’ retail venture but refused to divulge further .