Danube opens 1st store in Hyderabad
Danube Home, part of Dubaibased diversified business conglomerate Danube Group, has opened its first store in Hyderabad, India on Thursday The store...
Hyderabad: Danube Home, part of Dubai-based diversified business conglomerate Danube Group, has opened its first store in Hyderabad, India on Thursday. The store is spread across 60,000 square feet and is located at one of the largest malls of India, Sarath City Capital Mall, Gachibowli.
The store will offer 30,000 affordable home furnishing products ranging from soft to hard furnishings under one roof. The products are sourced from 20 plus countries such as US, Spain, Italy, Turkey, Malaysia etc. and more than 30% of the products are sourced from India.
Speaking to reporters after the launch, Adel Sajan, Director Danube Home said: “We have invested Rs 40 crore on the current store and plans to set up another 10 stores in the next five years with an investment of Rs 400 crore in addition to a large logistics hub, transport network and associated facilities over the next five years in India,” and added, “We are planning 35 stores in the next 10 years.”
He went on to add: “The entry in India is a significant step in our global expansion plan as we are targeting the country’s growing millennial population, middle class, dual income group, and upwardly mobile professionals which comprises a huge market for us.” Shubhojit Mahalanobis, General Manager Danube Home, said: “The brand’s entry into the Indian market will not only create direct employment, but will support local industries by sourcing products from across India.”