Dubai-based group to invest Rs.200 crore in Kerala
news Monday, January 05, 2015 - 05:30
The News Minute | December 17, 2014 | 4.05 pm IST As part of its expansion plans, the Dubai-based Bronet Group will invest Rs.200 crore across various sectors in Kerala in the next three-four years, a top company official said Wednesday. "We have built up successful businesses in the Middle East, Singapore and Hong Kong over the past 15 years. But our roots are here, particularly in Kozhikode, so we are investing in Kerala," Bronet Group chairman K.P. Haris said in a statement here. The group, which is into retail, trading, information technology, telecom and healthcare in the Middle East, Singapore and Hong Kong, will launch a state-of-the-art international furniture and home accessories showroom under the brand name "Stories" in Kozhikode in January. The Group plans to open similar showrooms in Kochi and in due course expand to Bengaluru, Chennai, Pune and Hyderabad. Bronet will widen its network of medical shops operating under the brand name "Open Medicines" from the existing 10 to 350 in the next three years in Kerala. "Currently, only 15 percent of the furniture market in the country is organised. By establishing our unique brand 'Stories', we target increasing our market share in the organised furniture retail space in the next five years," said Bronet Group managing director K.P. Abdul Nazeer. IANS
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