3% of disposable income being spent on books; Crossword expands network

crosswordCrossword, is contemplating vigorous expansion of its lifestyle bookstore retail chain by increasing the number of stores from from 37 to 45 during this fiscal. It intends to penetrate further in new markets by taking its tally of stores to 100, in the next fiscal, reports the Hindu Business Line. While, 19 of the existing stores are franchisee operated, balance are company owned.

“Though we focus primarily on the South, with proposed new shops in Bangalore, Coimbatore, Kochi and Hyderabad in the coming months, cities such as Chandigarh and Nagpur will also see our presence very soon,” said Aniyan Nair, Head, Operations & Marketing, Crossword Bookstores, on the occasion of opening of its new store in Chennai.

“Crossword’s vision is to create maximum comfort for its customers. We are committed to building world-class bookstores across the country and inculcating reading habit among children in the first place,” added Nair.

According to Nair, book retailing is growing at a healthy pace. In India, on an average, people spend (he prefers to call it `invest’) at least 3 per cent of their disposable income on books. Crossword Bookstores last year registered a turnover of Rs 80 crore. “We hope to reach Rs 100 crore this year,” he said.

Crossword lifestyle bookstores, depending on their size, are divided in three formats; corner stores (less than 3000 sq.ft.), brand stores (between 3000 and 8000 sq. ft.) and flagship stores (more than 8000 sq. ft.).

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