Infiniti Retail, a wholly owned subsidiary of Tata Sons, plans to have 31 ‘Croma’, multi-brand consumer durable and electronic mega stores by March 2008.
MUMBAI: Infiniti Retail, a wholly owned subsidiary of Tata Sons, plans to have 31 ‘Croma’, multi-brand consumer durable and electronic mega stores by March 2008.
The 10th Croma store was inaugurated here on Saturday in Navi Mumbai’s Vashi area by Tata Sons director and Infiniti Retail chairman R K Krishna Kumar and Tata Sons director Arun Gandhi.
“We will have 31 Croma stores by March 2008,” Infiniti Retail CEO and MD Ajit Joshi said after the inauguration of Navi Mumbai’s second Croma store. The first store is in Belapur area.
Kumar said, “So far nobody is providing national chain, there are local players and also economic growth, changing life style and upward mobility are the factors.”
The nine Croma stores in the country include 4 stores and a Croma Zip store at Mumbai’s domestic airport and two Croma stores each in Pune and Ahmedabad. The first store was launched in Mumbai’s Juhu area in October 2006.
“Next week on Friday another Croma store will be unveiled at Surat in Gujarat, and first store in South India will be unveiled on November 15 at Bangalore which will be followed by Croma stores in Chennai and Hyderabad. The store in Delhi will come up by December,” Joshi said.
For handling back-end operations Infiniti Retail has tied up with Australian retail giant Woolworths which owns and operates 300 stores in Australia and New Zealand.
As part of technical and sourcing agreement with Woolsworths, Infiniti will own and run the retail operations in India, while Woolsworths will provide technical support and strategic facilities from its global network.
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