Reliance funded Giny Jony on Expansion Spree
Thursday, July 3, 2008
Reliance Capital Ltd funded, Kids retailer, Gini & Jony is on a major expansion spree. Giny & Jony currently has 141 stores and would like to take the count to 560 by 2010.Giny & Jony currently retails kids wear. However, the company has unveiled its plans for entering the toys and utilities segment for which its is in talks with various international brands to bring them to India. Most of Giny & Jony stores are standalone stores and the company didn't make any comment on opening shop-in-shop concept.
Reliance Capital holds 22% stake in the company. Giny & Jony will invest Rs 150 cr for expansion ahead of its IPO.
