Australia-based Cartridge World, a $450-million speciality cartridge retailing chain, is planning to increase its presence in the country by introducing around 250 stores by 2010. Each store is expected to cover an area of around 500 to 1,000 square feet.
With this move, the company wants to increase its share in the cartridge retailing market in India. Speaking to media, Naveen Rakhecha, chief executive officer, said, “At present, our share in the Indian cartridge market is minimal. However, with increasing corporate spending and IT expenditures, we expect to capture a 10 per cent market share by 2010.”
The company is eyeing revenue of around Rs 300 crore from the Indian market.
Cartridge World currently operates 33 stores across 17 cities in the country through a franchise agreement with Mumbai-based AFL Private Limited. Globally, the brand operates around 1,650 stores in over 46 countries.