Home Retail Croma set for 10 additional stores in FY 16

    Croma set for 10 additional stores in FY 16

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    Tata Group’s Croma, a consumer durables and electronics chain is looking to open a dozen more stores during this financial year, though it is still to formally appoint in anew head following the exit of former MD & CEO Ajit Joshi.

    Croma launched three stores in April, the first month of 2015-16. Two more are reportedly being readied for launch in a month or so. “We have budgeted for around 10 new stores in FY16 but might exceed that, depending on the quality of location and store layout, if we get the right rental. We continue to focus sharply on calibrated growth in our chosen markets,” a spokesperson was quoted as saying.

    Ajit Joshi, who had been at the helm at Croma since its launch, stepped down from his position earlier this year. Avijit Mitra, chief financial officer, is managing the affairs of the company in the interim, until a new CEO is appointed.

    Croma entered e-commerce in 2012 and tied up with Snapdeal last year to sell its products. “We are already a step ahead in terms of omni-channel retailing and are in the process of rolling out some exciting customer-facing services this financial year, which will be announced once the pilots stabilise,” the spokesperson added.