MUMBAI OFFERS HUGE POTENTIAL IN THE RETAIL SPACE. WE WOULD BE LEVERAGING A STRONG NETWORK TO SOURCE QUALITY PRODUCTS FROM MICRO AND SMALL INDUSTRIES


Given the rising consumerism in metros like Mumbai, DP Retail, a subsidiary of Darwin Platform Group of Companies (DPGC) recently announced its entry into the retail space. The Company is all set to open six self-owned exclusive stores at Bhandup, Goregaon, Andheri, Jogeshwari Sion and Worli. Spread over 2,500 square feet, the first self-owned exclusive store will come up in Bhandup. Five other stores spread over 500-600 square feet will follow in the areas mentioned above.
These store are expected to be fully operational by the end of first quarter of the next financial year. Established in1996, the DPGC's net worth today is USD 6.4 billion and it has 21 associate companies. The group has chalked ambitious plans for the retail sector.
"India and, epically big cities like Mumbai, offer huge potential in the retail space. For DP Retail, we would be leveraging a strong network to source quality products from micro and small industries. Our sourcing would be in alignment with Make in India and Vocal for Local," said Ajay Harinath Singh (Chairman and Managing Director, DPGC), who is also the prince of Sultanpur, a city in Uttar Pradesh and a Raghuvanshi, who is the direct bloodline and the descendent of Lord Rama's son Lava.
Singh is passionate about nation-building through strong and innovative business models. He adds, "We plan to invest Rs 1,000 crore in FY 21 to reach out to other Indian cities. We have also allocated a significant amount towards market penetration across the omni channel retail business including an innovative franchise model."