Egana India is likely to invest Rs 100 crore in India to expand its 'Watches
and More' retail chain. The company is a JV between Egana Goldpfeil, an
international luxury watches and accessories company and the Mumbai-based Rose
Group.
The JV is planning to set up 10 more outlets of its retail chain in metros
and will be focusing on big cities for the time being. The company is looking at
venturing into Hyderabad and setting up more stores in Mumbai, Delhi and
Kolkata. The investment for the expansion will come from internal accruals.
Currently, Egana India has 15 stores spread across Mumbai, Delhi NCR, Kolkata
and Bangalore.