THE Popley Group is planning an equity issue to fund its expansion plans in India and abroad. The jewellery and luxury brand retailer with a turnover of Rs.450 crore ($97 million) has decided to expand its retail formats, Le Classique and Diatime.
%%According to reports Rajiv Popley, a director of the Popley Group opines that post 2008, they’d also tap new international markets, starting with London. In India too they will move to the other metros with their formats next year.%%Classique retails jewellery and accessories, while Diatime, a department store brand, sells in Shoppers’ Stop and Globus. The Diatime brand stores will be opened in Mumbai by the year-end. The Poley Group has also entered into a tie up with retail chains like Lifestyle and Pantaloons to sell its products in through their stores. Along with Diatime, Popley has also chalked expansion plans for in-house brands like Rhea, Emotions, Diamond Ids and Bandhan.
%%The company, which is targeting a turnover of Rs 650 crore ($141 million) by next year, is also expanding in Dubai. Apart from jewellery and accessories, it is also eyeing categories like leather accessories and writing instruments. Recently it had a tie-up with Kookai, a French apparel brand, to retail in Diatime oulets.