Italian furniture major Chateau d’Ax teams up with Vanto to set up chain of stores

Chateau d’Ax, Italian upholstered furniture maker, and Hyderabad-based furniture retail chain Vanto, have inked a joint venture agreement to set up a chain of stores, with a range of branded Italian products. The €800-million Italian major will provide the license and designer products, while Vanto will invest in the physical infrastructure of stores. In the long term plans are to set up a manufacturing facility as well, according to a source from Chateau d’Ax. The flagship Milano & Design (M&D) showroom was launched in Hyderabad by the JV partners. The next store in Bengaluru will be started soon. And by the end of March 2015, Pune and Delhi also will have our presence. The company is planning to open at least four stores every year with a target of 40 in the next five years. Each store will typically see an investment of Rs 2-3 crore and signage players engaging in in-store branding, designing and related jobs will find new business opportunity with the unveiling of such high-end stores in the sector.