The Hindu Business Line : Home Solutions hopes to break even by fiscal-end

New Delhi, Feb. 21 Future group company Home Solutions is highly bullish on the growth of its retail formats with the company hoping to break even by the end of this fiscal. The electronics and consumer durables store chain in the lifestyle segment said it will expand from 26 stores to 75-100 stores across the country in the next two years.

“Both consumer durables and furniture are destination stores. There is immense opportunity to scale up in the home vertical and we are undertaking a spree of expansions. The focus is always on finding the right location and the necessary real estate for the project,” Mr Hemchandra Jhaveri, CEO, Home Solutions Retail, said on the sidelines of Technopak summit.

The company is eyeing a billion dollar turnover by 2010 through its various formats namely E-Zone and Furniture Bazaar. It has also earmarked a capex of Rs 1,400 crore over a three-year period.

Stating that the home décor business is a totally disorganised segment, he said the company is working towards increasing the assortments for the consumers to choose from. “Offering a quality product at highly competitive price and upgrading a consumer is our biggest challenge,” he added.

The company is planning to set up 50 new E-Zone stores across the country over the next three years besides seven new large format Home Town stores over the next two years.

On a smaller Home Town format, Mr Javeri said the company is studying the possibility of introducing a ‘Home Bazaar’. The format will entail a retail space of 40,000 sq ft and a pilot store is likely to come up in Aurangabad in Maharashtra.

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