Indo Rama rolls out retail plans in Punjab

Indo Rama Retail Holdings Private Ltd, the retail arm of Indo Rama Synthetics, rolled out its first franchisee-Office 1 Superstore in Chandigarh today. Company Executive Director Vishal Lohia said the retail venture would provide one stop solution for products required in office, school and institutions.

"The company has plans to open 10 outlets by May and depending on the market feedback we will expand more aggressively," said Lohia.

The company has a tie-up with the USA-based Office 1 Superstore International for setting up retail superstores, for the office products, business machines and office furniture, in India.

Lohia told Business Standard that though the company had its own stores in Delhi, Gurgaon and Noida, it would prefer to have franchise partners for expansion into tier-II towns.

"Our franchise partner will have to invest about Rs 15 lakh depending upon the location and the range of office inputs," he said.

"Due to expansion of IT sector in Chandigarh and foray of new manufacturing units in Baddi, this part of the country has become one of the most sought-after destinations for office products. The unorganised players often sell counterfeit products to the large corporates and multinationals and also keep high profit margins. So there is an untapped potential for this business in north," he added.

"The unique selling point of our store would be branded products at a comparatively cheaper price," he said.

The company has zeroed in towns like Baddi, Mohali, Ludhiana, Amritsar and Jalandhar to expand its network.

Lohia said the stores will provide famous brands, locally manufactured brands and Office 1 products under one roof offering extensive choice to the consumer under the supervision of the company managers at the franchise outlets.