Jumbo Electronics has set for itself a target to open about 60 to 80 stores in the next two to three years time. At present, Jumbo Electronics has five operational stores, out of which four are in the Delhi NCR region.
The UAE based electronics retailer, opened its first electronics goods retail outlet in India about a year back, when it opened its first retail outlet in Noida. The other retail outlets in the NCR region are in Gurgaon, Ghaziabad and Delhi. Outside of NCR, one retail outlet is operational in Lucknow. The average size of a Jumbo Electronics store is about 10,000 sq feet.
Speaking to Indiaretailing, Atul Jain, Country head, Jumbo Electronics India, said, “From five operational retail outlets at present, we seek to open 60 to 80 retail outlets, across India, within the next two to three years. Each store will require an investment to the tune of Rs 2 crore”.
For its expansion plan, the company will not adopt the franchisee route. “All our stores are company owned and we seek to carry out the expansion plan through the route of company owned stores only and not through the franchisee route”, said Jain. The investment for expansion will be through company accruals only said Jain.
Talking further about the expansion plan, Jain said, “We seek to expand in all the metro and tier I cities. Depending on our success in the tier I cities, we would like to move to the tier II cities”. Some of the cities, which Jain enumerated for Jumbo’s expansion plan include, Bengaluru, Kolkata, Chennai, Hyderabad, Nagpur, Jaipur and Chandigarh.