Chennai-based Odyssey India Ltd, leisure store chain, opened a shop-in-shop (SIS) store measuring 1,200 square feet at EasyDay Market (a joint venture between Bharti enterprises and Wal-Mart), at Mahagun Metro Mall, Ghaziabad. The SIS will exclusively retail books.
Talking exclusively to IndiaRetailing T S Ashwin, MD, Odyssey India Ltd says, “Investment in SIS format is approximately Rs.2,500 per sq.ft. The SIS will be very much like the regular stores except for some common services.”
“Value retailing is growing fast in India and it is becoming much more organised and large scale than the other retail formats due to the entry of large international players. We will shortly start sourcing books at low prices especially for this format, where we can pass on the benefit to customers. We are currently understanding this format and once we analyse the sales and correct the model from a merchandising point,” says Ashwin.
Talking about the future prospects of a leisure retailer in SIS format, Ashwin says, “The tie-up with Wal-Mart is our first initiative at SIS. As long as the SIS partner has a customer profile that will be interested in our product segment, we don’t see any problem with this format for leisure retail. The product mix will however be selective. It will focus on new arrivals and bestsellers to attract impulse purchase and lower price points, especially in Wal-Mart. As a product segment, it perfectly complements the SIS partners offering.”
“Currently, Wal-Mart tie-up is the only SIS arrangement we are working on for further expansion,” he informs.
— Diwakar Kumar