Next Retail, promoted by Dhoot family of Videocon is planning to acquire regional players in the retail space. The company recently bought Planet M chain of stores from Bennett & Coleman Co. Next currently has 300 outlets and plans to add IT, Mobile and Music Hardware.
Mr. Raman.K.S, MD of Next Retail said,
We are ready to take in regional players who want to join us. These could be players who have products related to our category such as mobile stores and IT related chains. We will maintain the identity of our acquired retail brand. In fact in places where we have large formats we will add their brands and dedicate separate floors to retail their products.
Next will add more consumer durables at Planet M stores. There would be expertise provided by them in the Music Hardware space. The 10 Plugin stores have retained their brand identity. Next retailer is the leader in its category, mostly grown by inorganic ways. Next retail has set goal to build its own private label which it will sell to other retailers as well.