5 July 2007 — Mumbai (IND): Infiniti Retail is understood to be in talks to expand the retail format of Croma, the consumer electronics chain it runs in collaboration with Woolworths.
The Indian retailer, which currently operates five Croma stores on a cash and carry basis, has recently announced plans to be operating 40 stores by the end of the year and at least 100 by 2010. Some analysts expect the cost of the investment to be in the region of $74.5 million.
Infiniti’s CEO Ajit Joshi said: "We have an open mind on expanding our tie-up with Woolworths and we would like to extend it to all 12 different formats that it operates in Australia and New Zealand.
"There are many positive triggers now. A fantastic growth coupled with a good monsoon will sure propel the organised retail growth which is currently growing at a clip of ten percent."
In its native Australia Woolworths retail operations include supermarkets, convenience stores, liquor stores, petrol stations and consumer electronics stores.