The ₹900-crore electronics goods retail chain Pai International Electronics
Ltd is entering into private labels launching its first product during the
festive season and is aiming at business of over ₹1,200 crore this fiscal.
AP foray soon
The Bengalure-based chain, which currently operates over 80 retail stores
across Karnataka and Telangana mainly, is set to enter Andhra Pradesh soon,
and is eyeing other States as well. All the company stores are company
Raj Kumar Pai, Managing Director of Pai International Electronics, said the
company is investing about ₹50 crore in the private label business wherein
it is set to roll out a new generation LED TV range, to be sourced from a
Speaking after announcing the launch of six retail stores set up with an
investment of about ₹20 crore in Hyderabad at one go, Pai told Business Line
, “The private label was a logical extension aimed at further consolidating
on the Pai brand and its diverse set of consumer base.
70 lakh customer base
The company claimed it had a loyal customer base of over 70 lakh and this
is targeted to be increased to 20 million by 2020. By then, we will also
add new States to the chain.”
The MD of the 16-year old retail chain said that the buzz created by the
e-commerce sites in the country has had some impact on the business
initially forcing us to have a re-look at the company expansion plans.
“But, lately, business has settled and we closed last fiscal with total
turnover of ₹890 crore, including ₹791 crore from retail business and rest
from distribution. The distribution network handles a number of brands in
the consumer electronics and home appliances including Micromax, Kenstar
Coolers and is set to add LG too to the portfolio,” he said.
(This article was published on September 4, 2016)