The ₹900-crore electronics goods retail chain Pai International Electronics Ltd is entering into private labels launching its first product during the festive season and is aiming at business of over ₹1,200 crore this fiscal.

AP foray soon The Bengalure-based chain, which currently operates over 80 retail stores across Karnataka and Telangana mainly, is set to enter Andhra Pradesh soon, and is eyeing other States as well. All the company stores are company owned.

Raj Kumar Pai, Managing Director of Pai International Electronics, said the company is investing about ₹50 crore in the private label business wherein it is set to roll out a new generation LED TV range, to be sourced from a Chinese manufacturer.

Speaking after announcing the launch of six retail stores set up with an investment of about ₹20 crore in Hyderabad at one go, Pai told Business Line , “The private label was a logical extension aimed at further consolidating on the Pai brand and its diverse set of consumer base.

70 lakh customer base The company claimed it had a loyal customer base of over 70 lakh and this is targeted to be increased to 20 million by 2020. By then, we will also add new States to the chain.”

The MD of the 16-year old retail chain said that the buzz created by the e-commerce sites in the country has had some impact on the business initially forcing us to have a re-look at the company expansion plans.

“But, lately, business has settled and we closed last fiscal with total turnover of ₹890 crore, including ₹791 crore from retail business and rest from distribution. The distribution network handles a number of brands in the consumer electronics and home appliances including Micromax, Kenstar Coolers and is set to add LG too to the portfolio,” he said.

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