Croma, the consumer durable and electronics products retail chain of Infiniti Retail Ltd, has opened the third outlet of its small format store ‘Croma Zip’ in the national capital. This is the eighth store of Croma in Delhi-NCR. Spread over 1,100 square feet of retail space, the newly launched store is opened at Terminal 1D of Delhi’s Indira Gandhi International Airport. Further, the company plans to open 22 Croma stores (12 Croma Zip and 10 Croma) by the end of March 2010, informed official source from Croma.
Speaking to IndiaRetailing, Ajit Joshi, CEO and MD, Infiniti Retail Ltd, said, “We have opened the third outlet of our small format store ‘Croma Zip’ at IGI terminal. Our first Croma Zip is operational at Mumbai Airport and the second one in Mumbai Fort. We plan to open 22 Croma stores in this financial year that will include 12 Croma Zip and 10 normal Croma outlets.”
While the average size of Croma store is 15,000-20,000 square feet, Croma Zip will spread across 2,500-6,000 square feet each, added Joshi.
About the investment plan, he stated that the company invests around Rs 3 crore and Rs 1.8 crore for a Croma and Croma Zip outlet respectively.
The company currently operates 32 Croma stores in India including 12 stores in Mumbai, eight stores in Delhi-NCR, three stores each in Pune and Bengaluru, two stiores each in Hyderabad and Ahemedabad, and one store each in Baroda and Surat.
Croma is owned and run by Infiniti Retail Ltd, a 100 per cent subsidiary of Tata Group. Woolworths Ltd, the Australian retail giant, provides technical support and strategic sourcing facilities from its global network to Infiniti Retail.
— Sarimul Islam Choudhury