Tata Sons-owned Infiniti Retail, which runs electronics and durable stores under the Croma brand in India, is expecting a turnover of INR2,000 crore (INR20 billion, USD382.26 million) from its newly launched online venture in two years. Cromaretail.com, the chain’s e-retail venture, on Monday went live in India, covering 319 cities across 24 states.
"Since the launch of Croma five years ago, we have seen the retail industry evolve into being an integral part of our consumers’ lives and the launch of our e-commerce venture is a natural progression towards delivering growth and trusted service to our users," said R K Krishna Kumar, chairman of Infiniti Retail.
"What we took five years to achieve (turnover of INR2,000 crore) in the bricks and mortar model, we believe we will achieve that in online in one-and-a-half to two years due to growing internet penetration and changing buying habits," said Ajit Joshi, CEO and Managing Director of Infiniti Retail.
(Source: Business Standard)