By Vivin Mathew, CNBC-TV18

The Aditya Birla Group is betting big on garment retail. The company that has brands such as Peter England and Louis Phillipe is launching two new retail formats. The plan is to invest over Rs 1,000 crore in the next five years.

It might talk about small things, but clearly Peter England wants much more. The brand plans to launch about 80-90 Peter England family stores in five years. The family stores will be about 12,000 square feet and will have clothes for men, women and children priced between Rs 500 and Rs 1,100. The first store is being launched on Friday in Mumbai.

“We hope to build revenues of Rs 1,300-1,500 crore over the next five years with this specialty network of 80-90 stores," said Vikram Rao, Business Director-Textile and Apparel, Aditya Birla Nuvo.

Also on the anvil from the Aditya Birla Group are a chain of men's luxury stores. These will be 15,000 square feet and will house brands like Zegna, Armani and others costing between Rs 12,000 and a few lakhs per piece of clothing. The plan is 15 stores in five years with sales of about Rs 750 crore; the first of those stores will be in Bangalore by October.