Maspar in talks with Reliance Retail for home furnishing retail

Home furnishings company, Maspar Industries Private Ltd, is in talks with Reliance to retail out its products through their high-end retail formats. "We are in discussions with Reliance but nothing has yet been formalised," Company Managing Director Rajesh Mahajan told media. The company that has been manufacturing home furnishings for the export market of US and UK and supplying to brands like Marks & Spencer, Ikea and Waverly started its Indian operations in 2002 as a step towards forward integration. Maspar currently has five stores in the country and recently opened its sixth outlet in South Mumbai. "We will be opening up two more stores in Delhi next month and one in Pune," he said. In 2007-08 we will add four more stores in cities like Chandigarh, Noida, Hyderabad and Chennai, he added. Maspar has also placed its range through shop-in-shop and currently there are two such formats in Mumbai and Bangalore. "Six such shop-in-shop formats are in pipeline," he said. The company is targeting at a turnover of Rs 25 crore in 2007-08 and by the end of this fiscal, it is expected to close at around Rs 10 crore, he said. On investments, Mahajan said that on an average per store, the investment would be in the range of Rs 75 lakh to one crore. Currently, Maspar stores are located at Gurgaon, Noida, Bangalore and Ludhiana. It has its own manufacturing plant located at Panipat.

Courtesy: EconomicTimes
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