The Tata Group on Friday said it is not averse to acquisitions in retail space provided it brings synergy to the group's existing operations and in-creases operational scale. "India is a very large market for retail products. We have to increase scale in operation and derive synergy. If that calls for acquisi-tion, we will go for it," Tata Sons' director R K Krishna Kumar told reporters here. The group, he said, will look at acquisitions in domestic market. Kumar was speaking to reporters after the inauguration of the second Croma store here. He said Infiniti Retail, a 100% Tata Sons subsidiary, which operates Croma stores, will roll out 40 stores by the end of next year. Each store, he said, costs around Rs 3-3.5 crore.
"With various sizes, these stores will come up in Tier-II and Tier-III cities as well," Kumar said, adding that size of stores will depend on regionspecific requirements. The group also has other interests in retail through Trent India Ltd.
courtesy:economictimes
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