Croma Plans to Expand in Tier II Cities in FY23

Tata-owned Consumer durables and electronics (CDE) retail chain Croma plans to continue the rapid expansion it undertook in the financial year 2022 in the new financial year (FY 2023) as well, according to industry sources.

In FY2022, the brand opened 100 new stores. In FY 2023, it will focus on increasing its footprint in tier 2 and 3 towns. The brand is working towards making CDE more accessible, based on its demographic evaluation, economic drive, and the availability of warehouses in the target market.

In line with its aggressive expansion plans, the brand opened seven stores in the month of February and a few in March 2023. The brand’s latest outlets are at West Patel Nagar (New Delhi), Ongole (Andhra Pradesh), Malviya Nagar (New Delhi), Pathankhot (Punjab), Secunderabad (Telangana), Kanpur (Uttar Pradesh), Bengaluru (two outlets), Vijaypura (Karnataka), Gottigere (Bengaluru), Nacharam (Hyderabad), Surat (Gujarat), Ulhasnagar (Maharashtra) and Hotgi Road (Solapur). The size of the stores varies from 7,000 sq. ft. to 12,000 sq. ft.

The brand has also recently entered new markets such as Lucknow, Jamshedpur, Kochi and Ludhiana among other non-metros. The brand believes that these are hubs to thriving businesses and home to consumers looking for high-quality electronics, it added.

“Croma is investing in getting closer to the customer by opening more stores, at a faster pace; building digital capabilities and online presence and expanding their supply chain infrastructure,” the brand said.

The multi-brand digital gadgets and home electronics brand retails more than 16,000 products from over 550 brands at 300+ stores across 100+ cities in India. An offline-first retailer, it has evolved into a successful omnichannel player offering shopping options that include both in-store and online, through its website, which receives monthly traffic of over 30 million. Croma also plans to expand its alternative channels including travel retail.

Run by Infiniti Retail Ltd., a Tata Group company, Croma was launched in 2006, as a large format specialist retail store selling multi-brand digital gadgets and home electronics.