Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
||
|
|
||
|
Industry & Economy
-
Petroleum Marketing - Strategy Bite into a Big Mac at IOC bunks soon Our Bureau
Mr T.L. Jain, Executive Director, (Retail Sales ), Indian Oil (left ) and Mr Raghu Pillai, Managing Director, FoodWorld Supermarket Ltd at the inauguration of the first Foodworld-Convenio outlet in an Indian Oil petrol station in Chennai on Thursday. — Bijoy Ghosh
Chennai , April 29 PETROL bunks around the country are changing. At some you can drink your frappe or cappuccinos, and at others pick up bread and eggs. Soon you can order a Big Mac with mustard sauce and French fries. Indian Oil Corporation (IOC) is in talks with the American hamburger chain McDonald's to set up outlets at some of the company's bunks, according to Mr T.L. Jain, Executive Director, IOC. He said that besides vending fuel and lubricants, the company has to cater to other consumer demands. The company has a tie-up with Café Coffee Day for outlets in select stores. Mr Jain was speaking at the inauguration of a FoodWorld convenience store (FoodWorld-Convenio) at an IOC petrol station. He said that this was a pilot project and after six months a memorandum of collaboration between the two companies would be signed. He said that the revenue generated from non-oil items is on the increase depending on the locality of the retail outlet. IOC will provide the basic infrastructure and FoodWorld will retail groceries. The plan is to replicate the convenience store model in a few select IOC bunks, Mr Jain said. Mr Raghu Pillai, Retail Sector Head, RPG Enterprises, said that FoodWorld-Convenios are the company's fifth retail format. He said that the Convenios will stock 1,500 items. About 75 per cent of them will be food and the rest will be non-food items. Mr Ramesh Ramanathan, President, FoodWorld told Business Line that the company is also planning to test this concept in Hyderabad and Bangalore by launching one store each in these cities within the next couple of months. "We decided to foray into this format of retail business as we realised that a petrol pump not only attracts people to fill fuel, but they also frequent the place for a variety of other reasons such as using the ATM facilities and so on," said Mr Ramanathan.
More Stories on : Petroleum | Strategy | Retailing | Tamil Nadu
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|