HomeTown comes to Maharashtra

Part of the Future Group, the store is housed in Pune’s Ishanya Mall

PUNE: Home Solutions Retail (India), part of the Future Group, has rolled out its first HomeTown store in Maharashtra. It is housed at Ishanya Mall in Pune HomeTown provides end-to-end solutions to consumers for building their home. Five such stores are operational in Noida, Ahmedabad, Hyderabad, Bangalore and now Pune.

The company has set a target of 40 stores by 2010; it expects sales of Rs 7,500 core by then.

Two more HomeTowns are lined up for Pune by June 2008 with each store requiring an investment of Rs 20 crore. They are expected to generate revenues of Rs 200 crore in the first year of its operations.

Mahesh Shah, CEO, HomeTown, said, “Everywhere we have launched we have got a lot of institutional order in excess of Rs 200-300 crore immediately. Here also we are on the verge of clinching few deals. With time we expect 50:50 contribution from institutions and individual customers towards our sales.”

Shah added almost half the sales revenues come from the private labels that HomeTown offers in various segments. While the company has two labels in electronics segments, two in lighting, one in fittings segments, it will come out with its own brand in furnishings too within a month.

s_tanvi@dnaindia.net