Date:31/12/2005 URL: http://www.thehindubusinessline.com/2005/12/31/stories/2005123102950200.htm

Back Jindal Stainless lifestyle unit to open 25 outlets

Dharini Nagarajan

New Delhi , Dec. 30

THE lifestyle products division of Jindal Stainless Ltd (JSL), artd'inox, is on an expansion mode.

It plans to open 25 new outlets spread across the country by 2006 and a store each in Dubai and Colombo.

Under brand artd'inox, the company manufactures stainless steel lifestyle products including office desk accessories, kitchenware and tableware, which it retails at the stores.

The company is planning outlets in the main metros and cities such as Ludhiana, Chandigarh, Surat and Pune. Currently artd'inox has one exclusive store each in Gurgaon and Mumbai. It plans to add one more in both cities.

At an estimated expenditure of Rs 50 lakh per store, the total investment of Rs 5 crore would be funded by internal accruals.

Mr Sugato Bose, Business Head, artd'inox, JSL said, "As a part of our strategy we aim to broaden our horizons and reach out to more customers, though we are witnessing 600 per cent growth and still find the need to expand. We will be launching 25 new stores in 2006. We also plan to add new products to our current portfolio."

The brand, which is also available in multi brand outlets, offers products at a price range that varies from Rs 100 to Rs 11,000.

The company exports almost 70 per cent of its lifestyle products to markets such as Canada, the UK, the US and Australia, while the balance is available for domestic sale.

The company has set up a plant at Rohad exclusively to produce lifestyle products, which has a 40,000 unit per year capacity.