DLF targets US$1 billion retail revenue
DLF is targetting a billion dollar in revenue from its retail operation in five years. The company unveiled its retail plans and tie-ups with five international brands Boggi, Alcott, Piquadro, Sia Home fashion and Sun Glass Hut. DLF, which plans to have a portfolio of 15-16 brands, 600 stores and generate 15,000 jobs in five years, says the current slowdown hasn’t impacted its retail plans.
DLF has had no experience in retail, but still managed tie-ups with several international brands purely because of its real estate strength. DLF as such has no ambition to become a major retailer, but is following the strategy to ally with retailers to bring the well-known brands to its malls. The company is also open to the idea of selling out its stake to a JV partner in future.