DLF Brands, a subsidiary of the real-estate giant DLF, is planning aggressive expansion of its multi-brand store format. “We are targeting to open 100 ‘AVE.NEU’ and ‘AVE.NEU MART’ stores in the next 3-5 years,” said Dipak Agarwal, Chief Executive Officer – Operations and Strategy, DLF Brands. The company had signed a memorandum of understanding (MOU) with the Delhi-based retail real estate advisory firm Real Estate IQ in April 2012 to secure properties and commercial deals for driving the business growth.
Sanjeev Malhotra, CMD, Real Estate IQ, signed 3,50,000 sq.ft. of space while 2,00,000 sq.ft. was under negotiations within nine months of signing the MOU. Malhotra closed 35 locations till December 2012 for which he was felicitated by DLF Brands.
DLF Brands started operations in 2008. The company opened its first multi-brand store called “AVE.NUE” in Mumbai at Neptune Magnet mall, Bhandup followed by another store in Delhi at Moments mall, Kirti Nagar . It operates 150 single brand stores pan India for global brands such as Alcott, DKNY, Claire’s, Mothercare, Boggi Milano, Sunglass Hut, and Early Learning Centre and in Central, East, and West India for the brand Mango. DLF Brands has also tied up with Forever 21 and Kiko.