Stanley Lifestyles plans to open four overseas storesJune 18th, 2011 - 7:19 pm ICT by IANS
New Delhi, June 18 (IANS) Stanley Lifestyles, manufacturer and retailer of leather upholstery products, plans to open 10 new stores in the next two years including four overseas outlets - one each in Dubai, Colombo, Singapore and Bangkok, company officials said.
“We have aggressive expansion plans. Our target is to open 10 new stores in the next two years,” Akshaya Badrinarayanan, a director at Stanley Lifestyles, told IANS.
He said the company would do its overseas foray in 2012 with opening of retail outlets in Dubai, Colombo, Singapore and Bangkok.
Bangalore-based Stanley Lifestyles registered nearly Rs.125 crore turnover in 2010-11. “We are targeting 30 percent annual growth at least for the next five years,” Badrinarayanan said.
He said the company plans to invest nearly Rs.60 crore on expansion of manufacturing and retail outlets over the next two years.
Stanley Lifestyle makes premium furniture products for home as well as office. It also supplies leather upholstery to car makers including Ford and General Motors.
The company recently opened an outlet in Kirti Nagar in New Delhi. This is Stanley’s fourth outlet in the national capital region.
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