Penmaker Luxor to foray into retail
The latest entrant in the retail sector is the Rs 260 crore writing instruments major, the Luxor Group, which plans to open 200 stores in the next three years, through a separate subsidiary called Luxor Retail.
The stores will fall under three formats – targeting youth; showcasing learning products for children; and a luxury segment. The first one has been christened Luxor Signature. The other two are yet to be named.
Said Pooja Jain, executive director, Luxor Group, "We are planning to open 30 Luxor Signature stores in the country this year. The stores will target the youth and have travel and digital accessories apart from writing instruments."
The company is projecting Luxor Signature as a gift and innovation shop targeting the mid- to high-end market. The children's stores will display only those products that are for learning purpose only. And the luxury stores will have only high-end writing instruments and leather accessories.