DLF jumps on subsidiary planning to launch multi-brand retail stores

28 Nov 2011

DLF is currently trading at Rs. 209.35, up by 5.40 points or 2.65% from its previous closing of Rs. 203.95 on the BSE.

The scrip opened at Rs. 208.50 and has touched a high and low of Rs. 210.80 and Rs. 208.05 respectively. So far 1,37,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 325.00 on 02-Dec-2010 and a 52 week low of Rs. 173.40 on 17-Aug-2011.

Last one week high and low of the scrip stood at Rs. 211.10 and Rs. 190.90 respectively. The current market cap of the company is Rs. 35,550.00 crore.

The promoters holding in the company stood at 78.60% while Institutions and Non-Institutions held 15.97% and 5.43% respectively.

DLF’s retail subsidiary - DLF Brands in a bid to sell international fashion labels under one roof is set to launch multi-brand retail store. The company is further planning to open five stores every year. DLF Brands currently operates standalone stores for 11 global brands in India, including Armani, Boggi, Alcott, DKNY, Claire and Mothercare. It is also holding talks with other international brands to bring them into India.

Before the end of this year, the company will open its first multi brand retail store in Delhi. Each multi-brand store spread across 10,000 to 15,000 square feet would entail an investment of up to Rs 15 crore. Besides, the company is trying to enhance its presence in home segment with its plans to enter into beauty and wellness category. The company is currently in talks with a few international brands in beauty and wellness segment and is looking to expand in the home segment where they have got their own brand ‘Pure & Living’.

Further, for the expansion plans of its existing 11 brands, the company will continue to open standalone stores for all the brands that it has got. Besides, the company will unveil 100th store in the next couple of weeks. In the next three years it is looking to double the store count.

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