Rosebys ties up with Style Spa, eyes Rs 500 cr revenue by FY14
DELHI: Home furnishing and lifestyle retail chain Rosebys today announced a
tie-up with K K Birla Group furniture retailer Style Spa to set up 100
shop-in-shops by March next year as it looks to become a Rs 500-crore company by
2013-14.
The company also said it is in discussion with real estate,
paint and consumer care players to partner for its “one-stop shop in the
furnishing and decor segment”.
“We will initially open 50
shop-in-shops at Style Spa’s outlets across the country soon and then expand the
concept to its 100-odd stores by March 2011 under a revenue sharing model,”
Rosebys Director Nikhil Sen reporters here.
He said the tie-up will
provide a synergy for customers by offering the entire range of home solutions
under a single roof. The shop-in-shops will have an average space of 200-500 sq
ft.
“Modern customers look for furnishing items also when they come
to buy furniture and this tie-up will be strategic for both partners,” Sen
said.
On investment, he said: “We have a 5-year plan of Rs 125 crore
for brand building. This tie-up will help us further in becoming a Rs 500 crore
company by 2013-14.”
Rosebys is in talks with real estate, paint and
consumer care companies to make the partnership even more inclusive.
