Advertisement
Tuesday, Oct 26, 2021
Outlook.com
Outlook.com

Darwin Platform commits Rs 1,000 cr to expand retail biz

Darwin Platform commits Rs 1,000 cr to expand retail biz
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Aug 25 (PTI) Darwin Platform Group, which recently made a foray into the retail segment, has committed Rs 1,000 crore for expansion across the country, according to a statement.

Recently, the group opened its first retail outlet at DN Nagar, Andheri West, Mumbai, and plans to add at least 50 lakh sq ft of retail space within the next five years under its retail arm DP Retail, Darwin Platform Group of Companies (DPGC) said in the statement.

"DP Retail plans to have a pan-India presence with 50 lakh square foot space in the next five years," it said.

DP retail financial plans include the investment of Rs 1,000 crore to expand in tier-1, -2 and -3 cities over the next five years, according to the statement.

It has also allocated Rs 100 crore towards market penetration across the omnichannel retail business, including an innovative franchise model.

After opening the first store, the group plans retail outlets at Bhandup, Goregaon, Jogeswari, Sion and Worli in Mumbai and gradually move to other states like Gujarat, Jharkhand, Madhya Pradesh, Uttar Pradesh and Bihar.

DPGC Group CEO Raja Roy Choudhury said, "With DP Retail, we would be leveraging our countrywide network to cater to the rising consumer demand."

The company plans to achieve pan-India presence with different categories, including food, health and wellness.

Established in 1996, DPGC has 21 associate companies, the statement said. Over the years, the group has made rapid progress in several sectors including finance, banking, healthcare, avionics, energy, mass media, IT, and now retail. PTI KRH HRS

hrs


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

More from Website

‘Bigg Boss 15’ Contestants Ishaan Sehgaal And Rajiv Adatia Get Into A Heated Argument Over A Past Secret

‘Bigg Boss 15’ Contestants Ishaan Sehgaal And Rajiv Adatia Get Into A Heated Argument Over A Past Secret

Contestants Ishaan Sehgaal and Rajiv Adatia know each other from before. They got into a war of words over a past secret. What is that secret which Adatia is holding against Sehgaal?

Himachal Pradesh: EC Takes Special Measures For Polls In Pong Island Village; Boats, Solar Batteries For 96 Voters

Himachal Pradesh: EC Takes Special Measures For Polls In Pong Island Village; Boats, Solar Batteries For 96 Voters

Local Sub-divisional Magistrate (SDM) Ankush Sharma reached out to a 83-year-old Covid positive senior citizen and helped him to cast his vote under Absentee voter Senior Citizen (AVSC)

This Is How Radhika Apte Wrapped 3 Films In 3 Months Post Second Lockdown

This Is How Radhika Apte Wrapped 3 Films In 3 Months Post Second Lockdown

Actress Radhika Apte is a woman on a mission, who wrapped 3 films in 3 months along with multiple brand commitments.

More from Outlook Magazine

My Name Is Khan: The Face That Launched A Thousand Products

My Name Is Khan: The Face That Launched A Thousand Products

Behind SRK’s lover-boy image lies instability—sensitive to social, cultural and political change.

A Fanboy’s Bollywood: Before And After The Khans

A Fanboy’s Bollywood: Before And After The Khans

How the larger-than-life Hindi film hero of ­yesteryears gave way to the relatable charm of Shah Rukh and the other Khans.

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

Superstar Shah Rukh Khan has grown beyond the confines of Bollywood and India to find fame and fans worldwide, writes Beth Watkins.

Advertisement

Outlook Newsletters

Advertisement
Advertisement