FoBaz retail photo chain on the anvil

Fobaz (Foto Bazaar), a leading Internet-based provider of photographs, is set to invest about Rs 60 crore to create a chain of photo retail stores, offering a variety of photography services, in the northern states including Punjab, Haryana and Himachal Pradesh.

The stores would not only extend the services of printing photographs but also print photos on calendars, greeting cards, T-shirts, mugs and other gift items in a specialised and personalised manner, said Virender K Ahluwalia, chief executive officer of FoBaz.

While explaining the idea behind the concept of having photo retail chains, he said efforts would be made to provide online facilities to customers to send photos and get printouts or other items at affordable rates.

"We are in touch with some big photo retailers in northern India and will announce our tie-ups shortly," Ahluwalia said.

About the potential of the business, he said the photo retail industry in India was valued at Rs 4,500 crore and although the country had over 154,000 photo retailers, there was no organised chain.

Ahluwalia, whose family is from Phagwara in Punjab, said he returned to India from the US after a 25-year career to invest in the photo printing business.

The CEO said the services provided by Fobaz would help nearly 10 million NRIs to connect with their families, friends and native places in India.

Fobaz has also partnered Photo Works of the US to develop a robust digital imaging technology platform.