The Hindu Business Line : Godrej & Boyce plans 90 retail outlets by 2010

Godrej & Boyce Mfg Co Ltd's retailing division plans to increase the number of its branded Lifespace stores from 43 at present to 90 by 2010 at a total investment of Rs 35-40 crore. It hopes to end the current fiscal with a turnover of Rs 100 crore even as it targets Rs 300 crore turnover for the fiscal ending March 2010.

Mr Shyam Motwani, Vice President & Business Head (Retailing Division) of Godrej & Boyce Mfg Co Ltd, told newspersons that Lifespace stores currently occupy about 1.5 lakh sq ft across different cities.

Over the next three years, another 3 lakh sq ft would be added.

Besides the big cities, it would focus on Tier II and Tier III cities and towns, which are expected to drive volume sales and account for 20 per cent of the division's revenue by 2010. The targeted clientele is the 25-plus age group in the `A' and `B' socio-economic classes.

Mr Motwani said that the format Lifespace stores were one-stop-shops for all Godrej home and office products, such as appliances, furniture, security systems, locks, home accessories and lifestyle products. It plans to soon add personal computers, laptops, digital cameras, camcorders, microwave-able containers and crystalware to the product range retailed at Lifespace stores. "We will retail other brands also by way of shop-in-shop concepts," he said.

In the eastern region, Godrej Lifespace stores are present in Kolkata, Bhubaneswar and Guwahati. It plans stores at Ranchi and Jamshedpur in the near future, Mr Motwani said.