Infiniti Retail Ltd is set to open a megastore of Croma, its consumer durables and electronic products retail chain, at Prozone mall, Aurangabad. The store will be inaugurated on October 8, 2010, the company says.
Speaking exclusively to IndiaRetailing, Ajit Joshi, chief executive and managing director, Infiniti Retail Ltd, said, “We are already present in tier II cities such as Surat, Baroda, Rajkot and Ahmedabad. Now we are coming up at Aurangabad’s Prozone mall, where we have invested a total of Rs.3 crore, including inventory. The store will be thrown open to public on October 8, 2010.” The 15,000 sq.ft store will be Croma’s 53rd megastore in India.
“The megatore will house more than 100 private label products, including washing machines, laptops, DVD players, cell phones, PDAs, CDs, cameras and travel-related gadgets,” Joshi said.
The retailer has a fixed rental model with Prozone mall.
Croma currently has 52 operational megastores, including its five zip stores, in India covering a total retail space of over five lakh sq.ft.
The company plans to open 20 additional stores by March 31, 2011. Joshi said he intends to focus primarily on the cities where Croma is already present, besides opening stores in cities such as Nashik, Hyderabad, Coimbatore, Madurai and the Punjab belt, including Amritsar, Chandigarh and Jalandhar, among others.
– Diwakar Kumar