In an attempt to expand its footprint in the retail segment, Mumbai-based ceramic tiles manufacturer Nitco plans to open 400 showrooms in the next three years, said a top company official. “We are planning to open around 400 showrooms in the next three years period. It will all be on franschisee model,” said Vivek Talwar, manging director, Nitco Tiles.
Meanwhile, the new showrooms will be opened in tier II cities including Madurai, Ludhiana, Panaji and Guwahati, informed Talwar.
However, the company expects slower revenue growth in 2008-09 compared to the year-ago period. “We had a growth of around 40 per cent in FY08. However, last year has been a tough one, with real estate hit badly. Despite that we are hopeful of growing at around 15 per cent which is above the industry level,” he said.
— IndiaRetailing Bureau
