DLF plans expansion

DLF Brands, a subsidiary of Indian real estate company DLF, plans agressive expansion of its multi-brand stores.

The company targets to open up to 100 multi-brand stores under the names AVE.NEU and AVE.NEU Mart in the next three to five years. The expansion plan comes after it has forged an alliance with real estate advisory company Real Estate IQ to secure properties and finalise related commercial deals.

DLF Brands started business in 2008 as luxury brand operator. However, the company began to exit the luxury business last year and decided to sell premium to “bridge-to-luxury” brands.

According to CEO Dipak Agarwal, luxury is a futuristic business in India and does not have scale at the moment, hence, the shift of focus.

The first multi-brand store AVE.NEU was opened in May last year in Delhi. The store carries products from brands including DKNY, Mothercare, Sunglass Hut, Boggi and Alcott. A second multi-brand store was opened in Bhandup at Neptune Magnet mall.

Future expansions are targeted for Mumbai, Pune, Lucknow, Surat and Chandigarh.

Besides multi-brand stores, DLF also operates standalone stores for brands under its staple.


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