Gujarat Heavy Industrial Chemicals' retail arm Rosebys will invest over Rs 170 crore over

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the next two years in brand building and launching over 100 spa products in the country, a top company official said.

The company also plans to scale-up its store-network to 300 by the end of next fiscal.

"We plan to invest over Rs 150 crore to build our brand and over Rs 20 crore to launch about 100 products in the spa segment over the next two-years. We also plan to open about 300 stores by end-FY'11," Rosebys' Chief Executive Aloke Banerjee told PTI here.

At present, the 100-per cent subsidiary of Gujarat Heavy Industrial Chemicals (GHCL) has 80 stores, all on franchise basis, and intends to touch the 100-mark by this month-end, he said, adding the company was targeting Tier II and III towns as these were witnessing increasing consumption.

"We are not spending much in opening of new stores as all the stores will be on the franchise model... The investments are basically on brand-building," he added.

The company would be launching 100 spa products in the Delhi and NCR region by this fiscal end and then expand footprint to other parts of the country, Banerjee said.