To be set up in the country's 25 major cities, the exclusive stores will be company-owned with an area of about 3,000 sq ft and will be used to retail imported lifestyle products ranging from crystal to cosmetics to fashionwear and if government permits, even wines and spirits.

Following deregulation of imports last year, the UB Group set up a new company-MIBL-to market and distribute a range of imported lifestyle products. According to Mr Pardal, the company will also have wines as one of the major areas of focus. Refusing to divulge details on the wines front, Mr Pardal said, ``if the government permits, we'll be the first importer of spirits as well.''

Meanwhile, the company is all set to launch a number of premium lifestyle products from April 1, 2001, following tie-ups with several European companies including the French porcelain major Limoges Castle for the import of its 22k gold plated porcelain, with Aynsley of UK for its crockery and with Haviland for its 22k gold plates tableware. Among other brands that will be brought into the country by MIBL are Balleek Parian China and Galway Irish crystal, Charrier and Prestige range of perfumes; and Italy's Laila brand of cosmetics. "We are currently in the process of selecting our distributors for marketing these premium brands in the country,'' Mr Pardal said. Initially, the products will be retailed through multibrand premier outlets and shopping stores but gradually will find place in MIBL's own exclusive outlets, once in place.

Interestingly, while the company is importing only high-end products in the lifestyle category, it is chasing volumes in the perfumes and cosmetics segment by bringing in mid-priced products. While perfumes are priced between Rs 300 and Rs 900, cosmetics start at Rs 200. ``We want to do volumes in the segment,'' said Mr Pardal. The company plans to sell about 50,000 perfume bottles each month. Over time, the company also plans to bring imported fashionwear for men and women. It is currently in talks with some of the major fashion brands.

MIBL hopes to achieve a sales target of Rs 40 crore by the end of 2001-02. It plans to spend about 5 per cent of its turnover on advertising and brand- building.