RPG to invest Rs250-300 crore in Cellucom, Music World, Books and Beyond
23 Jul 2007
Mumbai: The RPG Group is investing an additional Rs250 crore to Rs300 crore in its retail ventures RPG Cellucom, Music World and Books and Beyond.
The
Group had earlier announced an investment of Rs1,000
crore in its flagship retail venture Spencer''s.
According
to Harsh Goenka, chairman, RPG Enterprises, the 50-store
chain under its RPG Cellucom, which sell mobile phones,
laptops and accessories would be expanded to 500 by
end of this financial year.
However, Goenka said the 280-store Music World, which
also sell ipods, DVDs, Wordspace and accessories, would
not be expanded aggressively because of saturation in
the music retail sector.
On the other hand, the Group is bullish the prospects of its music business under the Sa Re Ga Ma brand, Goenka said, calling it the "custodian of Indian heritage" which produces 72 per cent of the country''s music.
The
network of stores under Books and Beyond, its books
retail chain, would have a network of eight by this
year-end and would also stock DVDs and music, he disclosed.
said.