After tasting the success in fuel business, Indian Oil Corporation (IOC), country’s leading fuel retailer, plans to enter into the non-fuel retail segment. To start with an organised retail business, Indian Oil is expected to form a partnership with established players including Aditya Birla goup or Pantaloons.
“The new retail business would start its operations within six months,” said, Sarthak Behuria, chairman, IOC.
Talking to Indiaretailing, Rakesh Sehgal, DGM, IOC said, “It will be a convenience retail store which will consist of all kinds of premium brands.” However, he remained tightlipped for any further information related to the product line, initial investments or launch of the store.
Further, IOC would provide the use of its petrol pump sites for the retail stores while the expected partner company will take care of sourcing the products.
—IndiaRetailing Bureau
