IndiaRetailBiz

Mahindra & Mahindra (M&M), the $4.5-billion auto giant with interests in real estate and technology, is all set to make its foray into retail sector with urban lifestyle products, which among others would include antiques, apparel, home decor items, toys, jewellery, entertainment and wellness products, says an Economic Times report.

The group, according to the report, besides appointing Heads for HR, commercial and finance functions has also appointed CEO for its retail business. The CEO has been chosen from Alfatim group, a diversified conglomerate based in Dubai. The retail business will be operated from Bangalore.

As reported earlier, the retail foray will be handled by Mahindra Intertrade, an M&M subsidiary. Mahindra Intertrade, is handling a large number of internationally renowned brands in India like LEGO. According to sources, the retail venture among others is likely to deal in high-end, lifestyle products like

With the economy growing at over 9% coupled with boom in stock and properties market has resulted in increased disposable incomes leading to stimulation of customers interest in high-end exclusive products.

While, major retail groups like Reliance, Future and Tatas are setting up independent chains for speciality products, stand-alone chains from major industrial groups like Hero (Munjals) have begun looking at retailing of high-end products seriously. This is also safe as there is no opposition to retailing of such products from politically sensitive groups.