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Corporate - Diversification


Liberty group sets its sights on ceramics, leather accessories

Our Bureau

Kolkata , May 28

THE Rs 350-crore Liberty group plans to invest around Rs 20 crore on retail chain expansion of the group company, Liberty Retail Revolutions Ltd (LRRL), and diversify into ceramics and leather accessories with an investment of another Rs 15 crore during the current financial year.

The Executive Director of the group, Mr Adarsh Gupta, who was here in connection with the opening of LRRL's first outlet in the city, said during 2004-05, 18 more retail stores called "Revolutions" would be opened in major cities.

The Kolkata store is the fourth after one each in Mumbai, Chennai and Hyderabad. A second such store in Mumbai is next in the line. These stores are meant to address up-market customers looking for shoes and fashion accessories.

Mr Gupta said for ceramics products, which will include style, decor and fashion items, a manufacturing facility would be set up in Rajasthan. For leather accessories, a combination of outsourcing and in-house manufacturing is to be adopted. The new ventures, however, would not be associated with Liberty Shoe or LRRL. The latter would serve as the domestic outlet.

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