The Hindu Business Line : Infiniti Retail to open 20 more Croma stores

Hyderabad, March 12 Infiniti Retail Ltd today announced the launch of two of their consumer electronics stores Croma here, and hinted at setting up 20 more by next year with an investment of about Rs 80 crore.

Alongside, Croma launched private label branded home and entertainment segment laptops priced at Rs 32,999 and Rs 42,999, respectively.

A 100 per cent subsidiary of Tata Sons Ltd, Infiniti is the promoter of Croma brand of chain of electronic stores. It has so far set up 29 stores and plans to enter Chennai shortly.

The Chief Executive Officer and Managing Director of Infiniti Retail, Mr Ajit Joshi, said the company’s model is to set up a store in a select city and thereafter expand its presence.

This model has worked well as it helps in logistics and supply chain.

“We will follow this model in Hyderabad and expect to take it up to seven.

“The company now has 11 stores in Mumbai, seven in NCR and has set up Croma stores in Ahmedabad, Pune, Surat, Vadodara and Bangalore,” he told newspersons.

Asked about the impact of general economic slowdown on the retail business, Mr Joshi said that the company has not been impacted and they continue to mine into new cities for opportunities.

“It is not easy to get good properties.

“We are investing about Rs 60-80 crore for 20 more stores planned next fiscal,” he said.

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