Ebony Retail Holdings plans to invest Rs 130 crores for opening 13 exclusive shopping malls mostly in south and west in the next two years. The company will fund its expansion mainly through internal accruals.
Ebony has recently opened department shop in Chennai, and plans to introduce another shopping mall in Hyderabad in April 2002.
Out of seven, the company owns three department shops, while the rest are on lease. Ebony plans to open the mall in Amritsar in April next year.