Infiniti Retail, a 100-per cent subsidiary of Tata Sons, has announced its plans to operate a national chain of multi-brand outlets of consumer electronics and durables. These mega stores, branded 'Croma', will offer the country's widest range of products across categories and brands. The 'Croma' stores will be large-format stores spread over 15,000 to 20,000 sq ft. The first 'Croma' store covering 20,000 sq ft will be launched in Mumbai's suburb of Juhu on October 9, 2006. In the first 18 months, Infiniti Retail plans to launch 30 such large-format stores across the country.
With 'Croma', Infiniti Retail has entered into a technical and sourcing agreement with Australian retail giant, Woolworths, which currently operates more than 2000 stores across Australia in 12 different formats. The newly formed 100-per cent Tata-owned company Infiniti Retail will own and run the retail operations in India, while Woolworths will provide technical support and strategic sourcing facilities from its global network.
The foray into consumer electronics and durables retailing further strengthens Tata's presence in the growing retail industry in India. Announcing the launch of 'Croma', RK Krishna Kumar, director, Tata Sons, said, "The Tatas have always played a key role in identifying and supporting emerging business areas in the country. The organised retail sector is making huge inroads across the country today and we are very proud to play a significant role in this revolution. We are very pleased to be associated with Woolworths. Their expertise and knowledge of the international retail space will provide us with an edge in India's emerging retail market. The launch of 'Croma' will herald India's first organised entrant in consumer electronics and durable retailing, a highly fragmented sector which has thus far seen the emergence of a few regional players. Not only will 'Croma' provide the widest range, it will also provide a unique new shopping experience built around the customer."
'Croma' will offer products across the following eight categories:
'Croma' — enhanced shopping experience
The 'Croma' mega-stores will offer consumers the following benefits:
Reiterating the value proposition of 'Croma', Ajit Joshi, chief executive officer, Infiniti Retail, said, "With 'Croma', the Tatas will redefine the consumer electronic retail space. Our mega-stores will provide customers with an excellent range of products and world-class service coupled with a unique shopping experience and robust after sales service. The philosophy at 'Croma' is that we don't sell, we help you buy, thus facilitating the buying process and ensuring that every customer is completely satisfied with their purchase. Our roll-out plan across the country has begun, making 'Croma' the first pan-India, large-format electronics mega store."