Dubai’s Danube Home planning to enter India
Close on the heels of Swedish furniture giant IKEA opening is first India store in Hyderabad, Danube Home, part of Dubai-based Danube Group, plans to enter the country’s home furnishings market through the Telangana capital.
Danube Home plans to launch its first outlet in Hyderabad in October as part of its overall plan to invest over Rs 1,400 crore to set up 35 stores across India over 10 years.
The diversified Danube Group also proposes to set up 10 large format showrooms, a large logistics hub, transport network and associated facilities over the next five years in India, involving about ?400 crore of investment. The group with $1.3 billion revenue last year has interests in property development, building materials and home furnishings.
Confirming Danube’s Hyderabad plan, Telangana industries secretary Jayesh Ranjan said the home furnishings store would come up close to IKEA’s store in HITEC City.