Thursday, October 05, 2006

Tata Group announces its consumer durables segment: Infiniti Retail

Reuters and The Economic Times reports that the Tata Group announced that it would be investing up to Rs. 400 crore in its new retail venture dealing with consumer durable products called Infiniti Retail. The company had earlier entered an agreement for technical support and sourcing services with Woolworths. R Krishna Kumar, Director at Tata Sons Ltd., said that "We are very sharply focused on retail, and the foray into consumer electronics and durables will further strengthen Tata's presence in the growing retail industry in India."

The company will be setting up 30 stores, named Croma, stocking a wide range of electronic products and brands in the first phase and 100 stores in the next few years. The first store will open in the Mumbai suburb of Juhu on October 9, 2006 and will cover 20,000 sq ft of space. In general the stores will range from 15,000-20,000 sq ft in space.

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