In an effort to check variation in steel prices, Sajjan Jindal-promoted JSW Steel will foray into organised retail sector by opening over 600 exclusive JSW stores.
The exclusive JSW showrooms will retail all types of JSW steel, ranging from HR coil to colour-coated steel. By March 2008, around 25 stores will be operational, predominantly in southern and western India.
“JSW is looking at opening 600 retail outlets in the next two years time to market steel in the country. The reason for such openings is to keep a check on the variation in steel prices from company to company,” JSW Vice Chairman and Managing Director Sajjan Jindal told the media in a conference.
“JSW aims to provide a unique experience of buying steel products through branded distribution channels,” Jindal added.
Jindal pointed out that India uses only 50 million tonnes of steel every year, compared to 500 million tonnes in China.
JSW becomes the third steel major to enter the business of retail, with Tata Steel having pioneered the initiative with Steeljunction and Essar Steel subsequently launching the Hypermarket.