Videocon Retail is planning to expand the footprints of its two verticals, Planet M and Next in the next few years
Videocon Retail is planning to expand the footprints of its two verticals, Planet M and Next in the next few years by pumping in Rs.800 crore. With the expansion Videocon Retail is going to clock a turnover of Rs.4000 crore from its present turnover of Rs.400 crore. The company has plan to open 45-50 Plant M outlets every month and hopes to touch 1500 in the next few years, reveals Saurabh Dhoot, Director, Videocon Retail. At present, Planet M has 200 outlets across 42 cities. For Next, they have plan to increase its retail outlets from 400 to 700, covering 200 cities. Planet M is also coming up with the innovative idea of opening café, Café eARTh, inside the store in order to increase the time spent by the customers at the store. Apart from CDs and cassettes, this retail chain for entertainment products is all set to add private labels that comprise T-shirts and mobile phone and accessories. Mobile phone segment was account for 40% of the sales revenue generated last year. As a part of its retail strategy, the company is going to tie-up with insurance companies to offer insurance for handsets. They are already providing extended warranties on certain products.