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Retail boom entice garment makers into retail sector

23
Feb '07
MUMBAI:


Global and domestic garment manufacturers are foraying into retail malls and collaborating with retail developers due to ongoing boom witnessed in retail sector in India.

Max Retail, a division of Dubai-based Landmark Group, is investing Rs300 crore in setting up 50 company-owned 'Max' retail stores in India, in the coming two years.

The company plans to collaborate with Akruti Nirman and Nirmal Lifestyle where products will be priced below Rs600, according to Vasanth Kumar, ED, Max Retail.

Mumbai-based Krishna Lifestyle Technology Ltd (KLTL), garment manufacturer, is to foray into 'Central Mall' concept for the first time in India. KLTL plans setting up of 100 exclusive retail malls under brand name 'K' Lifestyle in coming two to three years in metros.

According to Navin Kumar Tayal, Chairman, KLTL, “K' Lifestyle Malls will be a mix of company-owned stores apart from anchor tenants within other malls.

KLTL will collaborte with 'Danabhai Jewellers', 'Pallazio Group' for making them anchor tenants within 'K' Lifestyle malls, to target elite customers.


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