FMCG major Dabur India will look for strategic investors for its retail subsidiary H&B Stores that operates New U Stores across the country.
Sunil Duggal, Dabur India chief executive officer, said the company would spin off the retail business eventually, and with the government opening up foreign investments in retail, it is essentially looking for foreign retailers as strategic investors.
There are currently 50 New U stores across the country, and Dabur plans to increase the number to 100 over the next three years. About 0.8 percent of Dabur’s domestic revenue comes from its retail business.
(Source: Business Standard)