Venugopal Dhoot-promoted Videocon Group has planned to join the retail bandwagon through a cash-and-carry venture. The group will launch 16 stores under the Bolld Cash & Carry brand and is targeting a turnover of Rs 10,000-Rs 11,000 crore in the next four years.
The first Bolld Cash & Carry is scheduled to be launched in September this year. The store will sell products across various categories including food and groceries, consumer durables and apparel.
Sunil Mehta, chief executive officer, Bolld Cash & Carry, said: “The company will invest Rs 2,000 crore in the next three years, and we expect a turnover of Rs 10,000-Rs 11,000 crore by the fourth year. We intend to open five stores, measuring 1-1.5 lakh square feet, in this financial year.”
The first phase will see Bolld opening in leading cities including Hyderabad, Ahmedabad, Bengaluru, Jaipur and Pune.
“In the second phase, the company will introduce private labels in certain categories like consumer durables,” Mehta said. “Our understanding of the local market will enable us to create a pull for the private labels.”