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Ajita Shashidhar

Chennai , April 21

CHENNAI-BASED books and music store chain, Odyssey, is on an expansion drive. While the next one year will see its presence in cities such as Bangalore and tier-two towns such as Vishakapatnam and Vijaywada, the retail chain also plans to foray into the western and northern markets.

Speaking to Business Line, Mr T.S. Ashwin, Managing Director, Odyssey, said that apart from setting up large format stores in the metros, the chain sees immense prospects in the tier-two cities. "The disposable income as well as the aspirational levels of the people in smaller cities have shot up and they are willing to spend. A young couple in a town like Salem is willing to buy premium toy brands such as Barbie or Fisher Price for its children. Our stores in Salem, Tiruchi and Coimbatore are doing extremely well."

While the large-format stores in the metros would be in the region of 15,000-18,000 sq.ft., those in the smaller cities, according to Mr Ashwin, would cover 10,000-12,000 sq.ft. The company also plans to set up neighbourhood stores, which would be around 1,500 sq.ft., and offer a limited selection of books, music and gift items.

Apart from the expansion, the chain will also focus on brand-building, said Mr Ashwin. It plans to launch a loyalty programme, Unwind which, according to him, would be more than just a point-based programme.

"We plan to have cross-promotional activities with lifestyle, garments and entertainment companies, organise special screenings of movies, plays and so on."

Also planned is the launch of its Web store, Odyssey.in, which Mr Ashwin looks at more as a brand-building exercise than a business model. "We also plan to co-locate ourselves with complementary businesses such as coffee shops or shop-in-shops at hotels, which again will help to increase the brand's visibility rather than generate actual sales."

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