Paramount Surgimed Limited, a part of the 100- crore Grover Group has geared up to expand its retail business by launching exclusive outlets of lifestyle and fashion brands like OSIM, Saboori Collezione and Axara across the country this year.
Talking to FE, Shaily Grover, managing director, Paramount Surgimed said, ?There is a plan to open 20 new outlets in tier-II towns by the end of this year with eight stores of Axara and Saboori Collezione. We will also add stores fashion brand Axara in Ludhiana , Amritsar and Chandigarh , and for Saboori Collezione in Chandigarh . We have 22 exclusive stores and 45 points of sale. An investment of Rs 60 crore to Rs 80 crore goes in for opening one exclusive store. The group has added Axara (a hi-end French fashion brand), and Saboori Collezione (hi-end bathing solutions like sauna, massage tubs, Jacuzzis et al) in the past six months?.
OSIM India was established in 2004 with the signing of Master Franchisee Agreement between Delhi- based Paramount Surgimed and Singapore-based OSIM International. He said the retail arm of Paramount Surgimed was now contributing 50% of the group?s turnover. Of the Rs 100 crore turnover of the company, the turnover from the retail arm is around Rs 50 crore,? he said.
Apart from this, Ziad Marcos, managing consultant on international expansion French fashion brand Axara who was in the city, said, ?Seeing the growing market in India , we have planned to 20 stores in the country covering all major cities. ?.
