Infiniti Retail, which sells electronic goods of around 180 brands in its Croma stores, today launched its small format store 'Croma Zip' at the Delhi International Airport. Infiniti Retail is a 100 per cent subsidiary of Tata Sons.
The acquisition comes in the wake of the Australian firm deciding to exit the specialty consumer electronics category and divest the business in Australia and New Zealand as well, apart from India.
Tata Sons-owned Infiniti Retail, which runs electronics and durable stores under the Croma brand, is expecting a turnover of Rs 2,000 crore (Rs 20 billion) from its newly launched online venture in two years. Cromaretail.com, the chain's e-retail venture, on Monday went live in 319 cities across 24 states.
Reliance Retail has tied up with Microsoft to launch the concept of connected homes.
As advertising reaches a cacophonous pitch, as it does every year around this time, brands say they are finding newer and more effective ways to reach their audiences.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
Demand is expected to grow as most customers await a drop in prices.
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Festive season is the mainstay of most brick and mortar retail chains.
VCs have been especially bullish about India.
The store launches same-day delivery for its site, though analysts say others have eroded its headstart in the brick and mortar format.
Shopkeepers are losing buyers in droves to e-tailers for everything from fashion to smartphones, and are struggling to find solutions.
With the festive season underway, retailers in the online and the offline world need to prepare well to offer the best deals to consumers and earn trust.
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