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Our Bureau

Bangalore May 30 The Chennai-based retailer for consumer durables Viveks is on an expansion drive. It will invest Rs 225 crore to open 100 stores in the South by 2010. Currently, there are 54 showrooms in Tamil Nadu and Bangalore.

Viveks is in discussions with a few investors for private equity funding to the tune of Rs 150 crore.

"We hope this money will come in three to four months," said Mr B.A. Kodandarama Setty, Chairman and Managing Director, Viveks, who was in the city in connection with `The Shop' — a two-day conference on retail in South India.

Viveks finished 2006-07 with a turnover of Rs 360 crore. It hopes to finish 2007-08 with a turnover of Rs 500 crore.

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