New Delhi: Home grown FMCG major Dabur India today said it is targeting a turnover of Rs 1,000 crore over the next three years from its beauty and lifestyle subsidiary - HB Stores.

"We are aiming a turnover at about Rs 1,000 crore by 2,010 and around 150 HB Stores. On an average, we are expecting a turnover of nearly Rs 22,000 per sq ft per annum from the outlets," Dabur India CEO Peter Braker told reporters.

The company is planning six retail outlets in the Delhi NCR region by the end of January and by next financial year the number would go up to 50.

"Currently, we are focusing on the Northern India and will soon open stores in Chandigarh, Amritsar and Ludhiana. We also have plans to open shop in Bangalore by January and foray in the Southern part," Braker added.

When asked how the company would compete with the existing retail outlets, Braker said, "We will offer products at a price which is 20-25 per cent cheaper than the Maximum Retail Price (MRP). This would attract the customers as this promotional price will be made available through out the year."

The company's market size is about Rs 25,000 crore and is now targeting customers in the age group of 16-45 years. The retail initiative of HB Stores is not only confined to selling only Dabur products, Braker said and added, "products of other FMCG majors, both national and international will be available in the outlet."

The store size would vary in the range of 1,200 - 6,000 sq ft. The company would be investing about Rs 140 crore for streamlining its operations by 2010.

The lifestyle retail section of the HB would be operating under the brand name of new .

Source : PTI