Dubai-based business group Danube on Thursday opened the first India store of Danube Home, its global home furnishings brand, in the city.
A 60,000 sq. ft facility at Sarath City Capital Mall at Gachibowli, the store was inaugurated by K.T. Rama Rao, Industries Minister in the caretaker government, in the presence of MP and AIMIM president Asaduddin Owaisi.
The city has become a gateway for many investments coming into India, Mr. Rao said, adding Danube’s large competitor – in an obvious reference to IKEA – had also made a foray into the country through Hyderabad.
Citing the latest Ease of Doing Business rankings that saw India leapfrog 23 spots, Mr. Rao said much of that was on account of the work initiated in Telangana, the significant changes that the State government made from a perspective of improving the EODB.
Danube Home director Adel Sajan said there were plans to open 10 stores in India with an investment of ₹400 crore over the next five years. “Our long-term vision is, spanning over 10 years, is to open 35 stores,” he said.
Besides the 10 large format showrooms, the Danube Group proposes to set up a large logistics hub, transport network and associated facilities in the next five years in India, a release said.
The Hyderabad store showcases 30,000 home furnishing products ranging from soft to hard furnishings and provides free interior designing service to customers. Around 25-30% of the items at the showroom are sourced from India.
Noting that the investment required on a new facility in India would be ₹40 crore, Mr. Sajan said there was potential to open two more stores in Hyderabad. Danube, he added, was considering Gurugram for its next store in India.
To queries, he said the Danube Group, which would be completing 25 years of operations, has three verticals – building materials, Danube Properties and retail which is Danube Home. The Group’s headcount was around 3,500 and its revenue was $1.3 billion last year, of which around 15% was contributed by Danube Home.
