<article>DLF Brands plans to exit its luxury retail business, while Cerestra buys Alexandria Knowledge Park in Hyderabad for $60 million.</article>

DLF Brands plans to exit its luxury retail business, while Cerestra buys Alexandria Knowledge Park in Hyderabad for $60 million.
<h3>DLF plans to exit luxury retail business to focus on mass brands</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/dlf-brands" target="_blank">DLF Brands</a>, the retail arm of realty major <a style="color: #000080;" href="http://dealstreetasia.com/tag/dlf" target="_blank">DLF</a>, plans to exit the luxury business with the idea of focussing more on its mass product business, said a Times of India <a style="color: #000080;" href="http://timesofindia.indiatimes.com/business/india-business/DLF-Brands-to-exit-luxury-biz-to-focus-on-mass-mkt/articleshow/54926799.cms" target="_blank">report</a>.
The company, which runs high-street fashion brands mall Emporio, has shut down a couple of stores of American fashion brand DKNY, after parting ways with premium brands such as Mango, Salvatore Ferragamo, Giorgio Armani and Sephora earlier.
&#8220;Out of seven stores, five are still operational,&#8221; said Timmy Sarna, MD of DLF Brands. &#8220;We don&#8217;t have any plans of opening new DKNY stores. And we don&#8217;t want to be in the high-fashion business. It&#8217;s difficult to scale that business up because there aren&#8217;t too many locations in the country where you can sell luxury,&#8221; he said.
DLF Brands wants to focus on mass brands. &#8220;You can either be in the fashion business or in the mass-brand business. You cannot have your finger in too many pies,&#8221; said Sarna. &#8220;We have profitable businesses in Mothercare, Sunglass Hut and Kiko&#8221;.
&#8220;This year, Mothercare will touch a top line of Rs 300 crore and we want to scale it up to Rs 1,000 crore in three years,&#8221; he added.
<h3>Cerestra Advisors buys Alexandria Knowledge Park in Hyderabad for $60m</h3>
Real estate-focused private equity firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/cerestra-advisors" target="_blank">Cerestra Advisors</a>, has bought Alexandria Knowledge Park in Hyderabad for Rs 400 crore ($60 million), according to a Times of India report quoting sources.
According to the report, Cerestra, which has the backing of Singapore-based asset manager Lighthouse Canton, plans to build an office portfolio focused on R&amp;D clients.
Alexandria Knowledge Park, was previously owned by New York-based Alexandria Real Estate Equities, which decided to exit India.
Singapore-based asset manager Lighthouse Canton is backing Cerestra in acquiring the asset.
Cerestra was acquired by London-based asset manager The Capital Partnership (TCP) from Religare Global Asset Management on 1 August. It is currently raising Cerestra Edu-Infra Fund, its first-ever fund of Rs.1,000 crore.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/cerestra-advisors-plans-to-launch-invit-and-offshore-edu-infra-fund-51704/" target="_blank">India: Cerestra Advisors plans to launch InvIT, offshore education-infra fund</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/dlf-shortlists-bidders-for-mega-stake-sale-deal-52026/" target="_blank">India: DLF shortlists bidders for mega stake sale deal</a>
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DLF Brands plans to exit its luxury retail business, while Cerestra buys Alexandria Knowledge Park in Hyderabad for $60 million.

India Digest: DLF plans to exit luxury retail business; Cerestra buys Alexandria Knowledge Park

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India Digest: DLF plans to exit luxury retail business; Cerestra buys Alexandria Knowledge Park

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