The Hindu Business Line : Oceanaa to enter retailing

Chennai, April 18 The Rs 500-crore Oceanaa group plans to enter retailing with a chain of stores under the brand ‘Fish ‘n’ Fresh’. The company is all set to open its first outlet, which is a 4,800 sq.ft. large-format store, on Sunday (April 20) at Anna Nagar in Chennai.

The Oceanna group is into software and shrimp hatcheries, farming and marine food, fruits and vegetables processing business.

The retail store will stock all kinds of frozen and fresh seafood, meat, vegetables, dry groceries and homecare products.

“The retail foray is as per our downstream plans. To start with, we propose to have at least 30 outlets in Chennai alone before the end of this fiscal and then will expand to other geographies in phases,” said Mr Joseb Raj, Chairman and Managing Director of the group.

The company has identified five places in the city for Fish ‘n’ Fresh, of which four will be large format stores spread over 5,000 to 6,000 sq.ft. and one small store that will sell only seafood, meat and vegetables.

“All five will be launched very soon,” he said.

According to Mr Raj, while the company will supply shrimps from its own farms, other fish species and meat will be sourced from other suppliers and will be sold under the Fish ‘n’ Fresh brand.

With an ad budget of Rs 5 crore for the year, Oceanaa started rolling out teaser ads with tagline ‘Get hooked to freshness’ in the print medium from Thursday to promote the retail brand.

It will also break TV commercials very soon. “Of the Rs 5 crore, we have set aside Rs 1 crore for the launch campaign alone,” said Mr Raj.

More Stories on : Diversification | Brands | Aquaculture | Tamil Nadu

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