Infiniti Retail, subsidiary of Tata Sons, is foreseeing a target of Rs 1,700 cr this fiscal year through expansion routes. This would bring growth turnover of 65 per cent for the company.
The company is currently operating in 56 stores with the retail presence under the banner ‘Croma’, housing a range of consumer electronics, appliances and IT products. It is invest Rs 40 crore by March next year to add up to 75 stores.
"Croma is targeting a turnover of Rs 1,700 crore in the current fiscal, up from Rs 1,021 crore last year. The company will also invest up to Rs 40 crore on store expansion," Infiniti Retail CEO and Managing Director Ajit Joshi told reporters here at the launch of a new Croma Mega store here. He said in the last three years, the firm has invested Rs 280 crore to set up its stores.
It also plans to launch its own branded computers and notepads. Private label products branded as ‘Croma’ contributes around 6-8 per cent to total sales.