Salora Group to foray into multi-brand retail segment

The $250 mil Salora group announced its foray into the multi-brand retail segment, with an investment of around Rs 200 crore. The company plans to open around 300-500 niche digital electronics? stores over the next five years.

Written by Corporate Bureau

September 5, 2008 23:46 IST

The $250-million Salora group on Thursday announced its foray into the multi-brand retail segment, with an investment of around Rs 200 crore. The company plans to open around 300-500 niche digital electronics? stores over the next five years.

The company launched nine stores in the Capital on Thursday under the brand ?Terminal Digital Electronics?. The investment is being made by the group?s retail arm, Salora Retail Ventures Ltd.

The company currently operates 25 single brand retail stores across the country. ?We wouldn?t be a destination store, which offers everything in the consumer durable segment, but would be a neighbourhood digital store?, Sanjive Sethi, CEO, Salora Retail Ventures Ltd said.

Sethi said that Terminal store was a neighbourhood store to serve very specific, frequent requirements of the consumers in only the digital electronics market?.

This article was first uploaded on September five, twenty eight, at forty-six minutes past eleven in the night.