Videocon Industries is expected to increase its multi-brand electronic retail chain Digiworld stores to nearly 1,200 by next year. Currently, the group operates 400 Digiworld store, including the franchisee ones, and plans to add at least 100 outlets by the end of this calendar year.
Next year, it plans to be more aggressive and open 500-600 stores to achieve the mark of 1,200 outlets. The firm normally invests about Rs 1 crore for a store and works on the model of 50% franchise and 50% own.
The company aims to take its consumer durables business to Rs 10,000 crore this year to strengthen its position against Korean rivals like LG and Samsung and will invest over Rs 50- 75 crore on R&D. The firm is in the process of setting up a new mobile handset plant involving an investment of up Rs 75 crore. The company, looking to sell around 2.5 million mobile handsets next year, is currently scouting for a suitable location for the new plant.
