Essel Group’s retail division, Gavel Fashions Ltd announced that it will be opening 60 stores and targeting a turnover of Rs. 3 billion over the next three years. The company’s first store will open in Delhi next month. Other cities where Gavel will open stores are Mumbai, Bangalore, Kolkata, Hyderabad, Chandigarh and Ludhiana.
Gavel Fashions will focus on the luxury retail segment, especially on international apparel and fashion accessories. In this regard, the company will also be bringing in 20 global brands to India, of which agreements for 2 menswear brands from Italy have already been signed.
Source: The Economic Times
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