Date:05/07/2009 URL: http://www.thehindubusinessline.com/2009/07/05/stories/2009070550690200.htm

Back Croma chain looking for local vendors to source products

— Bijoy Ghosh

Mr Ajit Joshi, Managing Director and CEO, Infiniti Retail Ltd, at the launch of Croma store in Chennai on Saturday.

Our Bureau

Chennai, July 4 The number of in-house products retailed under the brand Croma, the multi-brand consumer durables and electronics chain of the Tata Group, is set to double in three months from around 50 now.

Infiniti Retail Ltd, which owns the Croma retail chain, is also on the look out for local vendors to source products that are currently being imported through Woolworth Ltd based in Australia.

Addressing the media after the inauguration of Croma’s first outlet in the city, Mr Ajit Joshi, CEO and Managing Director, Infiniti Retail, said at present several products including laptops, wine coolers and split air-conditioners were sold under Croma brand. Soon it will add a host of new items, especially in personal care products.

Both Croma and Woolworth are working on identifying vendors in India to source products.

The company sells consumer durables, electronics, computers and IT products under 180 different brands. Currently, the sales from in-house brands are around 5 per cent and the target is to get at least 20 per cent in less than two years.

Croma has two forms of retail outlets – the regular large-format store and zip store – satellite stores housed in airports. Currently, Croma has a total of 32 retail outlets in nine cities, including the two inaugurated today. It will add another 22 stores in the current year.

The company reported a turnover of Rs 657 crore in fiscal 2009 against around Rs 200 crore recorded in the previous year.