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ITC opens first premium cigar retail store 'Cigar Republic' in Delhi
ITC opened its first retail store selling premium cigar brand 'Armenteros' in New Delhi on
August 23, 2011. The company launched the brand of hand rolled cigars in Delhi,
Mumbai and Kolkata last year. The store located at ITC Maurya Hotel, will also showcase
literature on cigars and related objects of interest for cigar connoisseurs. The company in
future also plans to launch the luxury store in other metros too.
'Armenteros' cigars are manufactured at La Aurora in Dominican Republic, one of the
oldest cigar companies in the world. The cigars are priced at `3,000 to `10,000 per pack
depending on the sizes (Churchill, Torpedo, Corona, Petit Corona and Robusto). At the
CMP the stock is trading at 22x FY2013E EPS of `8.9. We maintain our Neutral rating on
the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
ITC opens first premium cigar retail store 'Cigar Republic' in Delhi
ITC opened its first retail store selling premium cigar brand 'Armenteros' in New Delhi on
August 23, 2011. The company launched the brand of hand rolled cigars in Delhi,
Mumbai and Kolkata last year. The store located at ITC Maurya Hotel, will also showcase
literature on cigars and related objects of interest for cigar connoisseurs. The company in
future also plans to launch the luxury store in other metros too.
'Armenteros' cigars are manufactured at La Aurora in Dominican Republic, one of the
oldest cigar companies in the world. The cigars are priced at `3,000 to `10,000 per pack
depending on the sizes (Churchill, Torpedo, Corona, Petit Corona and Robusto). At the
CMP the stock is trading at 22x FY2013E EPS of `8.9. We maintain our Neutral rating on
the stock.
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