“We are planning to launch the Mega e-Zone store at Bengaluru this year. Spread across 25,000 square feet, the store will house a new range of products including washing machines, digital cameras and LCD televisions,” Hemchandra Javeri, chief executive officer, Home Solutions Retail, confirmed to Indiaretailing.
Presently, the company has more than 25 e-Zone outlets with an average store size of 10,000 square feet, while for expansions the company has already acquired space in eight cities.
With an investment of Rs 500 crore in the next two years, the company is expecting to achieve a turnover of Rs 700 crore by this year-end.
Meanwhile, Future Bazaar, the e-retailing format of Future Group, is also planning to take the expansion route shortly. The company has hired professionals from FMCG, retail and IT backgrounds for three key positions.
It has roped in former Pepsi Foods vice president (marketing), Saujanya Shrivastava, as head of marketing and sales, Future Bazaar; while former Satyam executive Ramesh Krishnan has come on-board as Future Bazaar’s chief of customer experience. Virendra Chhatbar from K Raheja Group will take charge at Future Bazaar as chief financial officer.
– Satrajit Sen