Croma to launch private label
12 November 2008
Croma, the consumer electronics retail chain of the Tata group, plans to launch its private label in order to increase the profit margins. The company also plans to phase out products that are giving low margins.
Croma, which is promoted by Infiniti Retail, a wholly owned subsidiary of Tata Sons, will cover a wide range from televisions to electronic massagers.
''We are looking at various products that are in demand and offer high margins" said Ajit Joshi, chief executive officer, Croma.
Croma will leverage its partnership with Australia-based Woolworths to bring out the private label. ''Our tie-up with Woolworths for back-end operations improves our quality to that of high standard,'' Joshi said.
As of now, Croma has 23 stores in the country and plans to add 12 new stores by March 2009. Tata Sons has invested nearly Rs 200 crore in the retail chain out of Rs 800 crore to be invested by 2010.