Appoints Graeme A Fraser as head of sourcing, buying & merchandising
MUMBAI: H&B Stores, a wholly owned subsidiary of Dabur India dealing with health and beauty products, will launch its first store in the National Capital Region (NCR), Delhi, in January 2008.
The company on Monday announced the appointment of Graeme A Fraser as the head of sourcing, buying & merchandising for the specialty retail venture.
Fraser would be the second expat to join the company after chief executive officer
Peter Baker.
A company official confirmed that a couple of more expats would also join company.
By the end of the financial year, the company plans to have 8-10 stores and over 200 by calendar 2010. H&B stores will showcase brands from other companies as well.
Peter Baker, chief executive officer, H&B Stores, Dabur India, said, “The stores will have pharma products, cosmetics, skin care, baby care, general care, fashion accessories etc.
We will bring many international brands in these categories for the first time.
Negotiations have reached the final stage and we will announce the names of these brands within a month. Dabur products will constitute just 20% of the total inventory of the store.”
“Dabur India will pump in Rs 140 crore in the next three years and internal accruals and debt will be used thereafter. We are looking at revenues in excess of Rs 1,000 crore by the end of 2010,” said Baker.
Prior to joining H&B Stores, Baker was the group head of retail for the Lee Cooper group and was responsible for over 450 stores around the world.
Baker, in a recent analysts’ meet, said that the company is also planning to have advisors in both health and beauty segments at these stores to help customers choose products.
The company may also stock health-related machines for personal use by customers.
According to a Nielsen global consumer survey, 15% of Indians spend on skincare daily and 30% on a monthly basis. Japan leads the world, with 58% shoppers spending on skin care on a daily basis.
