Madhura Garments Lifestyle Retail, an arm of Aditya Birla Group, is planning to set up the premium store concept-‘The Collective’ in three cities by next year.

At present, the company is operating in two stores-in Mumbai and Bangalore that is high-end luxury apparel and accessories under the banner—the Collective.

The company is looking forward to open another store in Delhi and is also eyeing for opportunities in cities like Chennai, Chandigargh and Hyderabad by next year. The company has earmarked an investment of Rs 40 crore for the next year and each store would cost around 8 crore of investment.

The stores house high-end apparel from international brands such as Armani Collezioni, Adriano Goldschmeid, Duchamp, Fred Perry, Hackett, Hugo Boss, Kenneth Cole, Ted Baker, True Religion and Versace Collection priced in the range of Rs 2,500 to Rs 75,000.

Looking at the economic growth of the retail segment, the senior executives have planned to introduce more high-end brands in the coming times.

The stores also offer value added service such as made-to-measure, spa, dry cleaning and alteration.