New Delhi: FMCG major Dabur India is back on its retail expansion track with scaled-down store sizes after curtailing its growth due to high estate prices.
The company has scaled down the size of the stores to 700-1,200 sq ft from its originally planned size of 1,500-6,000 sq ft, besides removing its pharmacy section.
Dabur India had decided to hold the expansion plan of its retail arm as it aimed to capitalise more from further slide in retail rentals that the company is expecting.
Launching its first outlet in the captital this week, the new store would sell its beauty and baby-care products, fashion accessories and other merchandise products. However, it would no longer retail its prescription medicines.
“In the health market, the stores will now stock only OTC products and not prescription medicines as was available in the previous avatar,” the company said.
Besides, Dabur has entered into an agreement with Moda of Turkey and QVS of Australia, under which the two companies would sell their products through the new stores.
On its tie-up with international brands, Dabur said the company has offered them “a springboard into the Indian market through Newu”. “With this, the company is confident of achieving quicker store turnarounds,” it added.
Besides, the company also said it is yet to appoint a successor to Peter Baker, the ex-CEO of Newu.