Mumbai, Dec. 17
Ltd, a part of the Future Group, on Monday announced plans to become a top player in the consumer durables and electronics retailing space.
As a part of this initiative, its retail formats - eZone and Electronics Bazaar- have announced plans for aggressive growth.
eZone, the electronics and consumer durables store chain in the lifestyle segment, plans to increase the number of stores from the existing 26 to about 75-100 stores across the country in the next 18-24 months.
Electronics Bazaar, which focuses on electronics and consumer durable products in the value segment, will expand its presence to 200-250 stores, in the next 18-24 months.
Total investment planned for the expansion of both eZone and Electronics Bazaar is between Rs 450 and 500 crore.
Mr Hemchandra Javeri, CEO, Home Solutions Retail (I) Ltd, said: "We understand that due to the booming economy and rising disposable incomes among Indian consumers, there is a noticeable rise in consumer spend in consumer durables and electronics category. We will be better positioned to meet this increased demand, through planned expansion."
Mr Manoj Kumar, CEO, eZone & Electronics Bazaar, said: "The last one-and-ahalf years, have been an exciting journey for eZone and Electronics Bazaar. From zero to 104 stores across 48 cities, especially in this highly competitive marketplace, is an achievement that we take pride in. We will continue to focus on providing a superior shopping experience and great deals to consumers and focus on dominating this space."
He further added: "Our private labels Koryo and Sensei have received fantastic response from consumers.
These private labels will see a major thrust going forward as well. Over 15 per cent of the total revenues of eZone and Electronics Bazaar come from the private labels. The brands are backed by an aftersales network of 52 centers across 45 locations in the country."
Innovation in retailing
eZone has also been spearheading innovation in retailing. One such initiative is the `Car stereo demo room', which creates the ambience of a car and enables customers to experience different models of car stereo systems in the right setting. Traditionally, car stereos have always been bought only through automobile accessories dealers and not through retailers of consumer durables and electronics. Another such innovation is the `Future Zone' at eZone stores which is a special section displaying gaming gadgets, toys and educational aid material for children. This has got an overwhelming response. eZone stores also have a `Home theatre demo room' to give consumers a feel of the home theatre systems, in the right setting.
