Videocon to consolidate retail business — forms Videocon Retail

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Videocon Industries is entering the grocery and lifestyle retailing market through cash-and-carry format, and is planning to have all its retail formats under an umbrella brand called Videocon Retail, by mid-2008.

The company’s retail brands include Next Retail, the recently-acquired Planet M, and the to-be-introduced cash-and-carry format.

“We see the growth in the retail business, which is currently doubling for us each year, as a great value proposition,” said Venugopal Dhoot, chief managing director, Videocon Industries.

Marco Padella, with his Carrefour and Metro AG experiences, has been roped in by the company; talks are also on to get in Peter Birch to head Videocon’s entire retail business. Birch is former Asia-Pacific head of Electrolux.

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