Croma to open more shops in India
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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.
Questions & Answers
Q.How many new Croma stores are planned for this financial year?
How many new Croma stores are planned for this financial year?
Croma is budgeting for around ten new stores in the current financial year. However, this number might be exceeded depending on suitable locations and rental agreements becoming available.
Q.How many stores has Croma opened so far in the current financial year?
How many stores has Croma opened so far in the current financial year?
In April, the first month of the 2015-16 financial year, Croma launched three new stores. Two additional stores are currently being prepared for opening within approximately a month.
Q.Who is currently leading Croma?
Who is currently leading Croma?
Avijit Mitra, Croma's chief financial officer, is currently serving as the interim Chief Executive. The former chief executive and managing director, Ajit Joshi, recently left the company.
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