The Hindu Business Line : Nextrade plans 250 stores in 5 years

ENCOURAGED by the response to its chain of five stores in Chennai, Nextrade Enterprises, the kitchen solutions provider, has drawn up ambitious plans of expanding its stores under the Internal Affairs' brand to 250 centres across the country in the next five years.

To begin with, Nextrade is opening four franchisee outlets in the twin cities of Hyderabad and Secunderabad on Monday, one each at Banjara Hills, Himayatnagar, Begumpet and Jubilee Hills, according to the Nextrade Chief Executive Officer, Mr Antony Varghese.

Addressing newspersons here on Friday, he said two more stores at Vijayawada and Visakhaptanam would be opened during September this year.

"We plan to set up five stores in Bangalore by June this year. Plans are at an advanced stage to open stores at Salem, Mangalore, Hubli, Belgaum, Panaji, Calicut, Kochi, Thiruvananthapuram, Visakhapatnam, Vijayawada, Coimbatore and Pondicherry. We will have altogether 27 franchisee retail outlets by the end of next fiscal."

Mr Varghese said plans were being drawn up to set up 15 outlets in Mumbai, nine in Delhi, three in Kolkata and one each at Chandigarh, Lucknow, Jaipur and Ahmedabad.

Nearly 6 to 7 per cent of the total cost of a house or apartment in the country is being spent currently on setting up kitchens . "Most of the houses go for carpentry woodwork in the kitchen. Only 3 to 4 per cent of urban households go for readymade kitchens, while it is 100 per cent factory-made kitchens abroad. This is going to change in India. The number of urban households shifting from traditional kitchens to designer/theme/custom-made/readymade kitchens will be 7 to 10 per cent in the next 10 years," he said.

Nextrade has entered into direct and exclusive procurement, sales and service deals with nine leading foreign partners for India, Nepal and Bangladesh. These include FOX Group, Vibo, Jollynox, TM-SRL, CF-SRL, Baumatic, Roma, Pelcon, Woodworth, Sai and Woodcraft, he said.

"The deal is to initially introduce their products in India and then set up manufacturing bases here in collaboration with them to bring in world-class products to Indian consumers at affordable prices. Initially, all of them would set up their warehouses in phases across the country," Mr Varghese said.

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