Gitanjali Group is in talks with an Australian health and beauty retailer to launch its products in India, reports Economic Times. It is anticipated that Gitanjali will sign a franchisee agreement with the USD 80 million Australian retail chain in near future.

Gitanjali has walked further in its retail venture through a new subsidiary, Luxury Connexions. The company plans to set up luxury malls across the country at an initial investment of Rs 1 billion, with first mall expected to come up in Hyderabad by the year end.

The company has plans to invest in areas other than jewellery also. Reportedly, it is in talks with leading apparel brands in Denmark and the UK for its retail venture. The Group is also negotiating with a couple of US fast food chains to become their franchisee in India.