PVR founder's family office invests in Louis Stitch
Summary
The Family Office of Ajay Bijli , founder and managing director of cinema multiplex chain PVR Ltd , has picked up a minority stake in mens luxury footwear and fashion brand Louis Stitch . The investment by Bijlis Family Office will be infused to set up standalone physical stores.Bijli said Louis Stitch "has shown remarkable growth since its inception in the mens luxury fashion market". The report said real estate developers plan to add nearly 25 million square feet of new mall space across seven major cities over the next four-five years.Goel said the funding will also be allocated to expand product lines, capacity expansion and distribution. The brand, which sells footwear, jeans, bags, and mens accessories, will extend its portfolio to add apparel such as polos, formal shirts, and trousers, Goel said. Another report by CBRE said rapid expansion of offline retail is being led by fashion and apparel, and food and beverages, not just in metros but tier-2 and 3 markets as well.