‘New-U’ the wellness retail chain promoted a couple of years ago by FMCG major Dabur India is up for sale, according to an ET report. Grant Thornton has been asked to find a suitable buyer, says the report. Grant Thornton is one of the oldest and most reputed accountancy firms in India, which also offers professional services to entrepreneurs through a network of offices spread across 110 countries in the world.
Dabur has so far set up 11 New-U wellness stores across India. However, according to sources, promoters have lost interest in the retail chain following economic slowdown and exit of key personell like Peter Baker CEO and Graham Fraser, Head-Merchandise, a few months ago. “It makes no sense for Dabur to throw money at a business unlikely to return profits anytime soon,” says a person familiar with the move. However, official spokesman for the company has not only denied any such move but has said that the company is planning to set up 12 new stores this year.
According to original plans, announced in March 2007, Dabur was to Rs 140 crore within 3 years. Terming retail to be the “next big focus area,” Dabur was also looking at setting up 350 stores of 1,500 to 6,000 sq ft each in the first five years and 1,000 stores within the first ten years of operation.
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1 response so far ↓
Anil Dogra // Mar 21, 2009 at 5:53 pm
These Dabur Guys are busy selling unreal fruit juices with the name ‘Real’.
God Blessed them with a Noble Blessing of Ayurved. Instead of rolling our ‘effective’ patents and selling them at affordable prices to people directly, they are wasting their energies.
Ayurved is such a Khazaana, ‘Real Gold’ and they are after fakes.
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