The Hindu Business Line : Crossword Bookstores plans to penetrate new markets

Crossword Bookstores Ltd is all set to expand its retail presence across the country in the next couple of years. "We are planning to open seven more stores before the end of this fiscal taking the total number of stores to 45. Our intention is to have 100 stores by the end of the next fiscal," Mr Aniyan Nair, Head, Operations & Marketing, Crossword Bookstores, told Business Line.

The company, positioning its retail outlets as lifestyle bookstores, at present has 37 stores in three formats — corner stores, brand stores and flagship stores. While corner stores are of small format, brand stores are spread over 3,000 to 8,000 sq.ft, and flagship stores occupy an area of over 8,000 sq.ft. All these showrooms are a mix of franchisee and company-owned models.

"We now have a total of 19 franchisee stores and our proposed new stores will also be a mix of both," Mr Nair said. According to him, the company wants to penetrate new markets rapidly. "Though we focus primarily on the South, with proposed new shops in Bangalore, Coimbatore, Kochi and Hyderabad in the coming months, cities such as Chandigarh and Nagpur will also see our presence very soon."

Irrespective of the format, the average spend is Rs 1,500 per sq.ft. on interior alone, he said. "Crossword's vision is to create maximum comfort for its customers. We are committed to building world-class bookstores across the country and inculcating reading habit among children in the first place," Mr Nair said.

It claims to be the first to offer browsing comfort to its customers through spacious and well-planned interiors. "As an integral part of our vision to be a community centre for booklovers, we also plan to organise cultural and social events where authors and poets hold court."

According to Mr Nair, book retailing is growing at a healthy pace. In India, on an average, people spend (he prefers to call it `invest') at least 3 per cent of their disposable income on books. Crossword Bookstores last year registered a turnover of Rs 80 crore. "We hope to reach Rs 100 crore this year," he said.

Chennai store

It opened its brand store in Chennai today. This is the first standalone store in the State. "We were hunting for a decent space with enough parking facility in T.Nagar, as right location, right size and right ambiance are the key parameters for a decent shopping experience. Now the hunt is over," said Mr Nair, who believes Chennai is the birthplace of organised retailing in the country. Crossword also has a shop-in-shop format store at Shoppers' Stop in the city. The new standalone store is spread over 6,000 sq.ft. and apart from stocking around 18,000 titles, has music CDs, DVDs and CD-ROMs to offer. It also houses Brio, a café.

Facilities such as dial-a-book and exchange, return and refund are also in offer. It also plans to set up an Internet kiosk in the shop very soon. "We are also planning to sell books through the Net from next year," Mr Nair said. According to him, the company is on the lookout for space to open a flagship store in Chennai.