The Tata group expects its chain of electronics goods shops to generate revenue of Rs 8,000 crore in two years. Infiniti Retail, which opened its first shop in Mumbai on Monday, will invest Rs 400 crore to open 30 stores by March 2008 and double outlets by end of 2009, the Tata Sons director, Mr R K Krishna Kumar said. "'We estimate, by the end of 2008 financial year, a turnover in the region of Rs 8,000 crore, if all goes as planned," he said at the opening of the group's first Croma outlet in Mumbai.
Infiniti may form an alliance with Woolworths of Australia for sourcing and technical support. Tata, Reliance Industries and other domestic retailers are expanding consumer businesses to grab a share of the $219 billion of annual purchases made by Indians in 2005 as foreign retailers form strategies to enter the country. Tesco Plc has sent a team of researchers to plan the UK group's strategy in India. India is in discussions with Wal-Mart, Carrefour SA and other retailers to develop a foreign investment policy, the Commerce and Industry minister, Mr Kamal Nath, had said recently.
The Tata group owns Trent, which runs the Westside retail chain in India. Trent, set up in 1998, sells garments, shoes and other merchandise including perfumes and cosmetics through its Westside stores.