Tata Croma, owned a by Infiniti Retail and a 100% subsidiary of Tata Sons, intends to augment its product portfolio under the private label category to 100 in the present fiscal. Presently, this electronics retain chain has portfolio of 46 products.
The company will introduce private label brand called Handpicked by Croma’ that would be launched in festive season of Diwali. Croma plans to introduce niche personal care products in the categories such as jewellery cleaner and wine cooler, which needs lesser R&D.
The company plans to unveil 12 Croma Zip stores with a capital outlay of Rs 24 crore. Coma Zip is a smaller format store that is spread on land area of 2,500 sq ft to 6,500 sq ft. Presently 3 such stores are being operated in India.
While the small-format stores require a capital of Rs 2 crore, the large format of Croma which is spread over on land area of 10,000 to 15,000 square feet requires an investment of Rs 3 crore an aove. Beside Croma ZIP, the company will also set up over 11 Croma stores.