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Mumbai, Apr 5: Reliance Retail is looking at opening 400 small format consumer durables stores under the ‘Reliance Digital’ brand in the rural and semi-urban markets. This will be the second major durable retailing initiative in the domestic market after competitor Tata Group’s Infiniti Retail-owned Croma, but the first that is focused on the small format stores targeting rural and semi-urban areas.
Infiniti Retail, however, hopes to enter the semi-urban and rural markets only in the next two years, Ajit Joshi, CEO and MD, Infinit Retail Ltd told FE. Reliance officials refused to comment on the development.
“With rural markets already contributing 60% to the overall cathode ray tube (CRT) TVs market, there is a good potential for categories such as music systems and DVD players to grow there. These products will help the overall durables market to grow by an additional 5 to 10% in the next two to three years,” says Suresh Khanna, secretary, Consumer Electronics and Television Manufacturers Association (CETMA). The overall durables segment in India is pegged at Rs 20,000 crore.
TCL Holdings India is planning to sell 70% of its targeted 6-lakh units in durables in the rural market this year.
The company is setting up 50 franchisee-operated mini formats of exclusive ‘TCL’ branded outlets in semi-urban areas with a population of 1 lakh and above.
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