Monday, January 15, 2007

Landmark to kick off Kolkata entry with 3 big store

KOLKATA: Within days of snapping its ties with the Emami group, book-and-gift retail chain Landmark is busy chalking out plans for its Kolkata foray, whereby it proposes to open at least three large size retail outlets and a slew of smaller format stores across the city.

Talking to ET, Landmark's chief operating officer Himanshu Chakrawarti said: "We are looking to launch three stores, each spread over some 25,000 - 30,000 square feet. Total investment for these three stores is estimated to be about Rs 15 crore."

The Chennai-based retail chain is eyeing prime properties in and around Camac Street - Theatre Road area, Salt Lake as well as in south Kolkata. "To begin with, we plan to hit high-street areas with large format stores.

Subsequently, we will focus on opening stores in malls," Mr Chakrawarti added. He, however, refused to identify the properties citing confidentiality reasons. Realty sources said the company has identified prime properties on Camac Street, Lansdowne Road as well as on Hazra Road, but a final decision is yet to be taken. The properties will be taken on lease.

Till recently, Landmark used to operate in Kolkata through a joint venture with FMCG major Emami. With Trent acquiring a controlling 76% stake in Landmark as well as its subsidiaries from its founder Hemu Ramaiah last year, ties with the Emami group was severed last month.

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