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Tata Steel To Set Up 6 New Outlets In StateBy siddharth22, Section Business
The steel retail sector in West Bengal is all set to get a boost with Tata Steel planning to set up six new outlets of its flagship steel retail brand Steel Junction in the eastern region, with a few to be set up in the state. All the new outlets would be launched by March 2008.
The new stores would be coming up either in the "Steel Junction Express" format, which either comprises 1,500 square feet or 3,500 square feet stores. In Bengal, the stores would be coming up at Asansol, Durgapur, Ranigunj, Barasat and Krishnagar. The brand, which operates a mega 20,000 square feet store in Kolkata at present, opened its second store in Siliguri last month It will open its first Steel Junction Express outlet in Barasat on November 23. Several other stores are in the pipeline, which would set up in Bihar and Jharkhand. "We are trying to leverage the Steel Junction brand in the East by using our logistical support to reach to the masses. The focus would be more on tier-II cities," said Sarvesh Kumar, chief of retail at Tata Steel. Kumar was speaking today on the sidelines of a seminar on "Rural India @ 60", organised by the Confederation of Indian Industries (CII). Tata Steel hopes to have a turnover of around Rs 28 crore in 2008, after it has launched all its new stores, and forecast the new stores to contribute around 50 per cent of this figure. Source:The Indian Express,21-11-07
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