Croma to open more shops in India

Croma, consumer durables and electronics chain of the Tata Group, is looking to open a dozen more stores in India this financial year.

In April, the first month of 2015-16, it launched three stores. Two more are being readied for launch in a month or so. “We have budgeted for around 10 new stores in FY16 but might exceed that, depending on the quality of location and store layout, if we get the right rental. We continue to focus sharply on calibrated growth in our chosen markets,” said a spokesperson.

Croma’s first chief executive and managing director, Ajit Joshi, quit the chain recently after eight years at the helm. Its chief financial officer, Avijit Mitra, is interim CE. Croma runs about 100 stores. It is also looking to launch new products in home appliances, the spokesperson said.