Great Eastern Trading Company, a consumer durables retailer, has opened its 22nd outlet in Kolkata at Baguihati. Spread over 5,000 sq.ft., the new store stocks brands such as Sony, Samsung, LG, Phillips, Toshiba, HP, Compaq, HCL, Whirlpool, Godrej and Panasonic.
Talking about the viability of tier II markets, Manish Baid, Director, Great Eastern Trading Company, said: “We have plans to move out of Kolkata after the end of this year; two of the tier II towns we will enter by the next year are Asansol and Durgapur.”
Great Eastern Trading Company was founded in the year 1976 by Nirmal Kumar Baid and Mahendra Kumar Baid. They opened their first outlet at Old Court House Street, Kolkata. After completing more than three decades in the CDIT business and expanding their presence throughout the city, company now wants to try new waters by foraying in tier II towns.
The company has invested Rs 5 mn in Baguihati store and plans to invest Rs 30 mn this year to open five more stores. The investment will be done through internal accurals.
-Shubhra Saini
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