Google News
spot_img
spot_img

Videocon takes retail roll-out to Next level

Must Read

Bucking a slowdown in retail, the Videocon group plans to increase the count of its Next Retail stores to 700 this year, up from 430 currently.

The stores will also sell IT and gaming products along with toys and gifts and Next Retail expects 8-10% of revenues from these new product categories.

“These are typically high-margin categories, which also help in generating higher footfall,” Sunil Mehta, chief executive officer of Next Retail India Ltd, said. “We have taken a cue from matured European markets for such a model.”

Next Retail has set up seven large central hubs to streamline distribution. It plans to replace smaller warehouses by central distribution centres that will deliver to consumer homes directly. This exercise will help cut costs by 7-8%, Mehta said.

The expansion will primarily focus on tier-II and tier-III cities. Mehta declined to give details on investments in opening the new stores.

Source: Mint

Latest News

The Luxottica report card for 2022

A look at how the world’s largest eyewear company fared in terms of revenue growth in key regions across...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.