Ebony Retail to add 20 new stores by 2010

New Delhi: D S Constructions Group subsidiary Ebony Retail plans to add over 20 mid-sized stores by 2010 to step up its furniture division expansion drive.

The exercise, which would see the company invest around Rs 70 crore, is part of its strategy to tap a significant share of the estimated Rs 25,000 crore Indian furniture market.

The company had entered into a partnership with France-based global furniture major Gautier in 2007 and is planning to add up to 5 lakh sq ft retail space in the next two years.

“We are planning to open 20 odd stores our Ebony Gautier brand of 15,000-20,000 sq ft by end of 2010. Our aim is to have a significant share of the Rs 25,000 crore Indian furniture market,” Ebony Director Manhad Narula said.

He said Ebony had entered into an exclusive agreement with Gautier and opened the first Ebony Gautier outlet at Noida last year.

“The first year was a trial phase and we are very optimistic about the results,” Narula said.

The company is seeking to tap the specialty end of the retail market where stores cater to once or another specialised segment or vertical.

“Our next store would come up at Gurgaon by December and after that we seek to venture into other big cities like Mumbai, Chennai, Pune, Bangalore, Kolkata, Chandigarh, Ahmedabad and Hyderabad,” Narula said.

“All our products are sourced directly from Gautier in France and come out of the design books of world-renowned designers. Our focus currently is on home adornments including furniture and high-end accessories,” he said.