Crossword achieves 50 stores mark; opens third store in Hyderabad

June 16th, 2009 · No Comments

Crossword Bookstore, the leading lifestyle retail chain of books and leisure (music, toys, games, etc) stores has launched its 50th store in Hyderabad. The new Crossword store, located at GVK One Mall in the city, is the third store of the retail chain in Hyderabad. The store like its counterparts elsewhere in the country stocks a wide range of books, movies, music, CD-ROMs, toys, gifts, and stationery, among others.

The retail chain, which competes with the likes of Tata’s Landmark, Mukesh Ambani’s Reliance Timeout, and Deccan Chronicle’s Odeyssey, is the wholly owned subsidiary of ’Shoppers Stop’ — the pioneering listed retailer that owns the country’s leading department store chain, also known as Shoppers’ Stop.

The brand name ‘Crossword’ was selected to reflect the dual fun and learning experience of a visit to Crossword similar to playing the puzzle.

Shoppers’ Stop had bought 51 per cent of Crossword’s equity from its founder R Sriram in 2000. While, Raheja’s of Shoppers Stop had paid an amount of around Rs 14 crore for acquisition of the ‘Crossword’ brand, another Rs 10 crore was for the purchase of 51 per cent stake in the retail chain.

Currently, the company operates 50 stores across the country in the metro and tier-II cities of Mumbai, Delhi, Bangalore, Kolkata, Chennai, Hyderabad, Ahmedabad, Nagpur, and Vadodara, among others.

Tags: Books/ Music/ Toys/ Gifts/ Leisure · Expansion/ New Investment · Indian Owned · Lifestyle Segment · Shoppers' Stop/ HyperCity · Specialty/ Concept stores