Dabur eyeing on strategic investor for retailing
Dabur would soon get engaged with a
August 23, 2010 | comments ( 1 ) |
Dabur would soon get engaged with a strategic investor in its retail venture codenamed ‘newu’ once it breaks even in business. The company reported clocked Rs 18-crore loss in the business in 2008-9, which has come down to Rs 9 crore in financial year 2009-10. Its revenue rose to Rs 9 crore in financial year 2009-10 from Rs 6 crore in financial year 2008-09. It expects the venture to break even by financial year 2012.
The company is no way looking to exit but in fact it is looking for a strategic investor. It is planning to take the business to the next level throungh capital infusion, once the business breaks even. Dabur would prefer a foreign partner with apt expertise as its niche portfolio of products is unlikely to attract domestic partner.
The company has 19 newu stores currently running across the ocuntry. It sells international and national beauty and health brands, personal care, babycare and fashion accessories. It plans to add 31 more stores, taking the total count to 50 by the current financial year.
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