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FINANCIAL NEWS
Dubai’s Marina Home looks to open 50 stores in India
14 Jan 2013
(MENAFN) Dubai-based interiors retailer Marina Home unveiled plans to open stores across India, investing over USD90 million, Press Trust of India reported.
The company said it aims to open around 50 stores in India over the next five years, and is targeting a turnover of USD55-73 million in its first year of operations in the country.
Khurshid Vakil, Marina Gulf and Marina Home co-founder and co-owner, said the company, which has stores across the Middle East, would fund the expansion in India from own cash.
The company also disclosed plans to invest an additional USD18.2 million this year, the report said, adding that the company is targeting deals with major builders to secure real estate projects.
The company is looking to open stores in countries like the UK, the US and Canada by the end of this year.
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