HomeTown launches store in Pune
By Our Corporate Bureau | 14 Dec 2007
Pune: Future Group's Home Solutions Retail (India) has marked its presence in Maharashtra with the first HomeTown store in the state.
Located at Ishanya Mall in Pune, HomeTown retails end-to-end solutions to consumers for building their home. The chain now has a count of five stores, with four others in Noida, Ahmedabad, Hyderabad, and Bangalore. According to reports, the company is looking at developing a chain of 40 stores by 2010, which it says would clock sales of Rs 7,500 crore.
At an investment of Rs 20 crore each, Pune will have another two HomeTowns by around June 2008. Reports indicate these will enable the chain to generate revenues of around Rs 200 crore in the first year of operations.
According to Mahesh Shah, CEO of HomeTown, the chain has seen almost immediate institutional orders in the range of Rs 200-300 crore at each place they've rolled out the store. Going forward, the company expects a 50:50 ratio of institutional and individual business contributing to its sales.
According to the company, almost half its sales revenues accrue from private labels retailed by HomeTown across various segments. The company has two labels each in electronics and lighting segments, one in fittings segments, and is reportedly planning to launch its own brand of furnishings in about a month.