Hyderabad-based Latent Images Private Limited, which operates the ‘IIIrd i’ multi-speciality digital store chain, has recently announced the opening of its three new gadget retail concept stores under the brand name ‘NowGadget’. One store each will be opened in Chennai, Bangalore and Kochi, in the next six months.
The average size of these stores covers a carpet area of 5,000 sq ft with an investment of close to Rs 10 crore, 70 per cent of which will be funded through internal accruals.
Launching the company’s first NowGadget store in Hyderabad last week, Latent Images chief executive officer Sanjay Bajaj said that the company was in talks with multiple venture capital companies to fund the expansion and expected to close the deal by January 2010.
Speaking to Indiaretailing.com, Bajaj revealed, “We are also planning to deploy Microsoft Surface, a multi-touch multi-user surface computing platform that provides information about the products on sale through natural hand gestures, for the NowGadget stores by February,”.
Currently, Latent Images operates five ‘IIIrd i’ digital camera retail stores in Hyderabad.
— Rajni Pandey