Mahindra Group to enter Retailing
Thursday, October 11, 2007
The $4.5 billion, Mahindra group has chalked out a retail strategy to ensure growth in the group beyond Automobile, Real Estate and Software services. Mahindra Intertrade, a group company which already holds licenses to distribute Kids Apparels and Toys of Mattel, Walt Disney and Nicklodeon will finalize the blue print.
Mahindra expected to roll out multiple format lifestyle stores across India. Mr. Ragunath Murti said,
Mahindra expected to roll out multiple format lifestyle stores across India. Mr. Ragunath Murti said,
The group believes that this is the opportune time to enter and extend its distribution business into direct retailing, when the organized retail is fast expanding in India. We will look at different product categories but not groceries.They may rope in a strategic investor at some point of time and it plans to hive off this subsidiary as Mahindra Retail.