Dubai’s Danube Home to invest Rs 150 crore in India
today Dec 13, 2019
Danube Home, the furnishing and interiors business of Dubai-based Danube Group plans to invest Rs 150 crore ($21.3 million) to expand its presence in the Indian market.
Along with its offline expansion, Danube will also be taking the online route for future growth in the country. The company is currently in talks with e-commerce firms and will start selling on site like Amazon early next year.
“By June 2020, we will have our e-commerce window. We have invested about Rs 50 crore so far here. After we firm up our expansion plans, we might invest Rs 150 crore, about Rs 30 crore each on smaller stores,” Rizwan Sajan, founder and chairman of the Danube group, told BusinessLine.
Shubhojit Mahalanobis, general manager of Danube Home, added, “We would like to focus on the e-commerce business as it is expanding steadily in the country. This window would help us reach out to the growing number of millennials that are mostly shopping online.”
Danube has stores in over 22 countries and had entered India by setting up its first store in India at Hyderabad. The company plans to add five more stores by 2021.
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