Business Daily from THE HINDU group of publications
Tuesday, Nov 18, 2008
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Business Daily from THE HINDU group of publications Tuesday, Nov 18, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Projects Marketing - Retailing Odyssey puts on hold expansion in new cities
In view of the falling rentals across the country, the company is reviewing property agreements and renegotiating terms. Anjali Prayag Bangalore, Nov. 17 Leisure stores chain, Odyssey India Ltd, is putting on hold its expansion plans in cities where it does not have a presence so far. “We’d rather grow in cities where we already have a base and have an established market,” says Mr T.S. Ashwin, Managing Director, Odyssey India Ltd. In view of the falling rentals across the country, the company is also reviewing property agreements and renegotiating on terms that it had signed 2-3 years ago, he added. As part of its plan to explore newer formats and catchments, Odyssey has tied up with HPCL to set up stores in Nagpur, Mumbai and Bangalore. The retail chain has also identified 29 Metro stations at New Delhi for its express kiosks. The company is piloting a books and music vending machine project in Chennai, which is expected to be ready for use in a couple of months. Odyssey is also working on launching music download kiosks where customers can buy customised music CDs. The concept is being tested in Bangalore, Chennai and Hyderabad and would be launched in 3-6 months. Commenting on the slowdown effect, Mr Ashwin said the retail chain had not experienced any impact on its sales so far. Sales generally peak during December-January, a traditional gifting season. “Instead of the usual 2-3 times the average sales of the other months which we see during the season, this year it may be about 1.5 times,” according to him. The average ticket size at Odyssey is around Rs 500/customer a visit. The company currently has 15 large format stores and 23 express outlets spread across 2.5 lakh sq ft. Odyssey opens eyeware store Odyssey to open more stores More Stories on : New Projects | Retailing | Music & Dance
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