IndiaRetailBiz

NEXT, the consumer electronics and durables chain owned by Dhoots (Videocon), which currently operates 300 stores, is set to open 100 more stores within a month reports PTI. NEXT is hoping to record a turnover of Rs. 1,600 crore this fiscal.

The Rs. 25,000 crore consumer electronis and durables space is highly fragmented except for a few regional (Vijay Sales, Viveks, etc) and national (Croma, Reliance Digital) chains.

NEXT sells ACs, TVs, home theatre systems, washing machines, refrigerators, microwaves from Electrolux, HCL, Hyundai, Kelvinator, Kenstar, LG, Nokia, Onida, Philips, Sahara, Samsung, Sansui, Toshiba, Videocon and own brand Next.

Going ahead, NEXT is expecting to garner a turnover of Rs 10,000 crore through a network of 3,500 new stores, including 2,000 exclusive stores for mobiles and IT products. This expansion will be completed in three years, by 2010.

“The aim is to have 15,00 NEXT outlets by 2010, covering 200 cities across India and for products such as computers, gaming consoles, mobile phones and others. We shall open 2,000 exclusive TIG (telecom, imaging, gaming) stores,” Next India Pvt Limited Assistant General Manager Sales and Marketing Narendra Agarwal said.

While declining to divulge the investments, Agarwal declined said, “the amount of money to be invested would entirely depend on the store format and the availability of desired locations across India.”

These outlets could, however, cost about Rs 2,200 per sq ft. for regular products and about Rs 1,500 per sq ft for IT stores.

“Of the planned stores, those in metros and A class cities would be company owned, while those in B and C class cities would be through franchising route,” he added.

Speaking about store size, Agarwal said that it could vary between from 3,000 and 10,000 sq ft in metro cities.