Dec 3, 2008

Business - Subhiksha 'planning' consumer durable retail stores

CHENNAI: As part of its expansion plans, Consumer supermarket chain Subhiksha Trading Services proposed to set up consumer durable retail stores across the country, a top company official said on Tuesday. The company's Managing Director R Subramanian to ld PTI here that the stores would hold products like laptops, printers, computers apart from mobile phones. However, Mr Subramanian declined to elaborate on the investments for setting up the retail stores and also the time frame required for it.

On the decrease in mobile phone stocks (across the company showrooms in Chennai), he said “in the last few months, the sales of mobile phones has been witnessing slow growth''. He said the retail industrial growth has been affected due to the global mel tdown. “'Everyone in retail industry are postponing their expansion plans and are adopting a wait and watch strategy''. “There would be some pain'' due to the global meltdown. However, he said “it(the meltdown) will help in making the industry lead a h ealthy life''.

To a query, he said the Chinese retail industry is different and ahead of India “in many ways.'' The industry there is more organised, he added. - PTI


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