Mumbai: Croma, the multi-brand consumer durables and electronics store chain, is looking to expand and has drawn up plans for small-format stores over the next eight months, a top company official said.
The retail chain is promoted by Infiniti Retail Ltd, part of the Tata group, and currently has only large-format stores that range from 15,000 sq. ft to 22,000 sq. ft.
The size of the new stores, said Ajit Joshi, managing director and chief executive officer of Infiniti Retail, will be 2,000 to 6,000 sq.ft.
The company currently has around 22 stores across seven cities, each stocking 6,000 products in eight categories; it plans to have up to 36 stores by March next year.
Experimenting with different store sizes depending on location is an established retailing strategy worldwide. It was not immediately clear, however, whether the new, small-format stores would be launched under a new name. Joshi said the issue has not yet been decided.
Given the number of products available in the Indian market, Joshi said around 12,0000 sq. ft would be the ideal size for a store, but added that the company was going for a smaller size because of high rentals as well as non- availability of space in cities.
Croma plans to launch stores in Jalandhar, Chandigarh and Amritsar, Joshi said.