Acer India Ltd on Wednesday said it would invest $3 million in 2005 to beef up its retail operations in India.
"This year we have an expansion plan to touch 200 retail outlets, out of which 60 will be exclusive Acer Malls. For the purpose we have an investment budget of $3 million," Acer India Ltd Managing Director WS Mukund told reporters.
Already the company has invested about 30 per cent of the amount, he said while announcing the opening of four Acer Malls in the capital.
"We intend to open four more Acer Malls in Delhi to take the total to eight by the end of the year," he said.
At present the company has 165 outlets, of which 40 are exclusive Acer Malls and the rest Acer Points, which are multi-brand outlets, he added.
Mukund said the company is focusing on B and C class cities and towns across India, specially in the northern region, for its retail expansion plans.
"We are aiming for 50 per cent of our business to come from these cities and towns," he said.
The retail business of the company has been growing at over 50 per cent quarter-on-quarter, and it is expected to continue to do so, he said.
Having touched Rs 519 crore (Rs 5.19 billion) in turnover in 2004-05, the company is looking for growth of about 40 per cent in the current fiscal, he added.
"In terms of the number, we are looking to sell about 2,20,000 units this fiscal," he said, adding the company sold about 1,30,000 units in 2004-05.
