THE Popley Group is planning an equity issue to fund its expansion plans in India and abroad. The jewellery and luxury brand retailer with a turnover of Rs.450 crore ($97 million) has decided to expand its retail formats, Le Classique and Diatime.
According to reports Rajiv Popley, a director of the Popley Group opines that post 2008, they�d also tap new international markets, starting with London. In India too they will move to the other metros with their formats next year.
Classique retails jewellery and accessories, while Diatime, a department store brand, sells in Shoppers� Stop and Globus. The Diatime brand stores will be opened in Mumbai by the year-end. The Poley Group has also entered into a tie up with retail chains like Lifestyle and Pantaloons to sell its products in through their stores. Along with Diatime, Popley has also chalked expansion plans for in-house brands like Rhea, Emotions, Diamond Ids and Bandhan.
The company, which is targeting a turnover of Rs 650 crore ($141 million) by next year, is also expanding in Dubai. Apart from jewellery and accessories, it is also eyeing categories like leather accessories and writing instruments. Recently it had a tie-up with Kookai, a French apparel brand, to retail in Diatime oulets.
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