Tata Group's Infiniti Retail to invest Rs 800 crore in Croma
17 March 2008
Mumbai: Tata Group's retail venture, Infiniti Retail Ltd, plans to invest Rs800 crore to expand its consumer electronics and durables business,under the Croma brand.Infiniti Retail Limited, is a 100-per cent subsidiary of Tata Sons.
Woolworths Ltd, the Australian retail giant, provides technical support and strategic sourcing facilities from its global network.
Infiniti, has so far invested Rs150 crore on 17, large format Croma stores, each of which is spread over 15,000-20,000 sq ft.
Infiniti now plans to expand these outlets to 100 by 2010, mainly by establishing a presence in new markets like Kolkata, Chennai and Hyderabad.
The company says it will open its first store in Kolkata before Durga Puja around October, while the stores in Hyderabad and Chennai will open in the the next financial year.