Kishore Biyani promoted Future group company, Home Solutions Retail (I) Ltd. is eyeing for a turn over, during the next fiscal, of Rs.1,000 crore from its consumer durables’ business, which comprises home furniture brand “collection-i” and home electronics brand “e-zone.”
“We are planning to open 15 more E-Zone stores across the country in the next two to three months, and further scale up the number to 25-30 stores, by June 2007. We also intend to introduce a few more electronic and consumer durable products.” said Manoj Kumar, head (consumer durable and electronics), Home Solutions Retail, at the time of opening of the company’s sixth E-Zone store in the country at Hyderabad. The company, as reported earlier, already has five outlets located in Mumbai, Bangalore and Indore. The company intends to open another 3-4 stores in Hyderabad within a couple of months. Each of the new stores will be spread over 8,000-15,000 sq.ft. As a matter of policy, prices at E-Zones are generally kept 15 to 25% lower than known brands of comparable products.
“Owing to this, we expect our turnover to touch the Rs 1,000-crore mark by 2007-08,” added Manoj Kumar.
The company is also in the process of increasing the number of its “collection-i” stores to 14 within a period of the next six months. “collection-i” stores cater to the consumers’ need of furniture and related items.