The investment will be done in various sectors, together with luxury and premium retail sector. The whole process of investing will be done through a SPV i.e. a special purpose vehicle with a name of New India Investment Corporation, told by Vikas Ranjan, Executive VP and Co-Owner Gravitas.
The company has raised money from different sources from their home country i.e. Canada. They are also planning to tap investors from India as well for expansion.
Further he said “There is a lot of potential for exclusive premium and luxury brands in India”. Gravitas will be retailing its luxury and premium fashion and brand and personal hygiene brand through its Luxury Quotient India, which was set up last year by the company. The products will be available offline as well as online. Soon more international brands and high end clothes brands will be making their entry in the Indian retail sector.
The company retails quite known brands like Pure Distance, Flake Bodysuits and Eshave. There are plans to retail labels such as Simpson, Comuto and many more of same type very soon in the Indian markets.
Company has plans of increasing its multi brand stores by calling in like-minded individuals for franchising. Other than investing in luxury and fashion industry, company will also lock the money in sectors such as education, technology and the financial sector. “We are looking in some interesting options and some are in talks with us” said Ranjan, who is in India on an official visit.