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Article: Alok Industries to invest Rs 150 cr on its retail expansion.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- September 23, 2008
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Alok Industries to invest Rs 150 cr on its retail expansion
Mumbai, Sep 23 (PTI) -- Textile firm Alok Industries plans to invest Rs 150 crore for its retail expansion, besides hiving off its subsidiary, Alok Retail India, into a separate firm, a senior company official said.
"We plan to invest Rs 150 crore over the next three years to expand our retail store network under the brand `H&A'. Presently, we have 35 stores--we intend to scale up our presence to 500 stores by 2010-11," Alok Industries Vice President (Domestic Business) Umang Garg told reporters here today.
The Rs 2,170 crore company also intends to hive off Alok Retail into a separate ...