Mumbai: Croma, the large-format, multi-brand consumer durable and electronic store from the House of Tata's, unveiled its second store in Mumbai at Malad.RK Krishna Kumar, director, Tata Sons and Hema Malini, MP, inaugurated the store.
Tata Group on Friday said it is not averse to acquisitions in retail space provided it brings synergy to the group's existing operations and increases operational scale.
Krishna Kumar, director, Tata Sons and Hema Malini, MP, said, "India is a very large market for retail products. We have to increase scale in operation and derive synergy. If that calls for acquisition, we will go for it."
The group, he said, will look at acquisitions in domestic market.
Croma in Malad is spread over 22,000 sq.ft and houses more than 6,000 products spanning over 180 local and global brands across 8 categories.
He said Infiniti Retail, a 100 per cent Tata Sons subsidiary, which operates Croma Stores, will roll out 40 stores by the end of next year.
Each store, he said, costs around Rs 3-3.5 crore.
Kumar said, "With various sizes, these stores will come up in tier-ii and tier-iii cities as well."
The group also has other business interests in retail space through Trent India Ltd, a group subsidiary.
Asked whether it would like to integrate Infiniti with Trent, Kumar evaded any direct answer saying, "as a group, we will have to have a common focus."
With categories like home entertainment, small appliances, white goods, computers and peripherals, communication, music, imaging and gaming software each of the Croma store promises to deliver the widest choice of products.Croma is a part of Infiniti Retail Limited, a 100% subsidiary of Tata Sons.
Ajit Joshi, CEO & managing director, Infiniti Retail,said, "We are delighted to bring the Croma experience to Malad. This is in continuation of our aggressive roll-out plan that will take the Croma experience across the country, establishing the first pan Indian, large format electronics mega store."