Croma Launches Gadgets of Desire
Indian retail chain Croma which is known to offer an array of electronics and durable products is all set to launch a smaller format dubbed as the Gadgets of Desire. Croma is owned by Infinity Retail which is in turn a subsidiary of Tata Group.
After successful expansion into Croma Zip Stores and Croma Kiosks, the company has also recently launched an online vertical – croma.com.
The move comes after the company’s losses have further deeply decline in the fiscal year 2017 and Croma is hoping to break even at both the operational and net profit level in the next fiscal year by introducing the latest line of gadgets.
During a recent interview, CEO and executive director of Croma Avijit Mitra said that it aims to float an IPO, even though not very soon, as their profits will grow. He further informed that Croma is all set to launch small format stores known as Gadgets of Desire that will range between 1,500 and 2,000 square feet.
A new store has been launched in Delhi recently which offers a range of unique and innovative gadgets that are must-haves for the today’s gadget loving and tech-savvy customers. The new store allows the customers to experience the feel of more than seventy speakers with just a small touch thanks to the unique and interactive touch-based experience. The store also includes an exclusive Internet of Things (IoT) zone where the customers will be able to experience the complete IoT ecosystem prior to buying them.
Croma CMO Ritesh Ghosal said that Croma has always been a retail company that strives to be customer-centric and the new line of stores, Gadgets of Desire, is the company’s attempt that will further allow it to come closer with customers. He also hoped that Croma will become the go-to destination for customers who are looking for almost everything in electronics.
As the new stores are located in very close proximity to the full-fledged Croma stores and are actually in tandem with the bigger versions, the company believes that they will act as a gateway to the entire range of electronics offered by Croma to the customers.