Financial Daily from THE HINDU group of publications
Tuesday, Dec 20, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 20, 2005 |
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Marketing
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Retailing 98.4 degrees targets 300 outlets Dharini Nagarajan
New Delhi , Dec. 19 PHARMA retail store 98.4 degrees is set to expand. The company, which has 11 outlets under its fold, is targeting 300 outlets in five years. "We are hoping to expand our presence to 300 stores by 2011. At present, we are also dealing with around 18,000 SKUs," said Mr Gautam Thadani, Director of Global Healthline Ltd, promoters of 98.4 degrees. At the sidelines of the ongoing TiEcon summit in the Capital, Mr Thadani said the company has earmarked Rs 100 crore for expansion. "We would invest Rs 100 crore in three years towards expansion, which would be financed through internal accruals and debt. We are planning to go pan-India soon and have adopted a strategy to expand in `concentric circles'," he said. The company, which set up its first outlet in Gurgaon in 2003, hopes to increase its presence in the northern region before venturing into other zones.
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