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Marina Homes plans to open 50 outlets in India
18
Jan '13
Marina Homes, the Dubai-based home furnishings firm, is planning to launch about 50 outlets, including large and medium sized boutique outlets across metro, tier I and tier II cities of India.
 
The company, which offers the whole range of home interiors like fabrics and living room accessories, intends to invest Rs. 5 billion in India over the next five years, Khurshid Vakil, Co-Founder and Co-Owner of Marina Gulf and Marina Home, told PTI, Economic Times reported.
 
The company plans to launch four big company-owned outlets in metros in the country, in the first phase. The next phase would see setting up of boutique outlets in various smaller towns and cities through franchise route, Mr. Vakil told PTI.
 
Already having outlets across the Middle East, Marina Homes has, of late, launched its first outlet in Delhi and has invested about Rs. 1 billion for developing infrastructure, distribution and logistics network. 
 
The Indian expansion would be funded through internal accruals and the company aims to achieve a turnover of about Rs. 3-4 billion in the very first year of its operations in India, Mr. Vakil said.
 
In addition to its expansion in Indian market, the company also plans to earn recognition for Marina brand in western markets during the current year, and is presently surveying the prospects, sites and entry points of those markets. 
 
Marina Homes intends to set up outlets in the US, UK and Canada by close of the current year, Mr. Vakil said and added that they are planning to launch company-owned and managed outlets in cities like Toronto, New York, Chicago and London.
 

Fibre2fashion News Desk - India


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