Nextrade set to foray into AP market

Plans to open 4 stores in Hyd, 1 each in Vizag, Vijayawada

Chennai-based home solutions provider Nextrade Enterprises today announced their expansion into the Andhra Pradesh market.

The company will be opening four stores in Hyderabad shortly and will also have a store each in Visakhapatnam and Vijayawada by the end of June.

The company expects to record a turnover of Rs 7 crore by the end of the next financial year.

Addressing a press conference, Antony Varghese, CEO of Nextrade Enterprises, said that the company's 'Internal Affairs "� Kitchen and Home Stores' chain would wind its way to about 250 locations across India in the next five years. We already have five stores in Chennai and we plan to have five stores in Bangalore by June."

The company also plans to have stores at Salem, Mangalore, Hubli, Belgaum, Panaji, Kozhikode, Kochi, Thiruvananthapuram, Vizag, Vijayawada, Coimbatore and Pondicherry. Additionally, the company will have 27 franchisees retail outlets by the end of 2005.

"We started with an initial investment of Rs 3 crore and have registered a sales turnover of Rs 1.25 crore just out of our Chennai stores in the last nine months. We will soon be launching our stores in north India and set up 15 outlets in Mumbai, nine in Delhi, three in Kolkata, one each in Chandigarh, Lucknow, Jaipur and Ahmedabad," he said.

International Affairs is the retail wing of Nextrade and has direct and exclusive procurement, sales and service deals for India, Nepal and Bangladesh with leading international brands like FOX Group for cooker hoods, Vibo for wire systems for kitchens and wardrobes and Jollynox of Italy for kitchen sinks and faucets.