With an aim to strengthen its retail network in India, Norway-based paint manufacturer Jotun Paints plans to invest Rs 2.5 billion to open 300 outlets by 2010, under the brand name Multicolour. “Presently, the company has 130 outlets across India and plans to launch 20 more stores by March 2009, targeting a turnover of Rs 2 billion,” said a company official.
“The group is on an expansion spree in India with a focus on the southern and western region. The objective of opening showrooms is to provide a complete touch and feel experience to the consumer while simultaneously building brand loyalty. The new outlets will be developed through the franchise model, wherein the minimum investment would be Rs 15 lakh (1.5 million) for setting up a 300 square feet shop,” said Percy Jijina, general manager, Jotun Paints.
The Multicolour outlets will exclusively house only Jotun products. It will have panels that would display the different textures and colors offered by the group exhibiting decorative paints. “Jotun Paints also plans to set up a manufacturing unit in North India by next year”, concluded Jijina.
— IndiaRetailing Bureau