Gitanjali Lifestyle plans to roll out 40 multi-format lifestyle brand ‘Maya’ stores over the next three years and expects Rs 1,000 crore revenues from its operations.
The company announced that it has acquired 76 per cent stake in Salasar Retail, a mid-sized departmental stores chain across India.
As per the officials, the company will brand the existing 10 Salasar stores as ‘Maya’ and spend up to Rs 240 crore to add 40 multi-storeyed outlets over the next three years. The Company expects revenue of Rs 1,000 crore in the next three years from different Maya concepts.