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The Mumbai-based home Jaipan Industries has decided to enter the retail industry by setting up 200 stores under its brand name.The home appliance company with products such as mixer grinders and juicers has now diversified into the lighting business and with its enhanced portfolio, it intends having at least 200 exclusive stores across the country under the ‘Jaipan' name.
Mr J.N Agarwal, Managing Director, Jaipan Industries, said, “We plan to have 200 stores which would be run through franchise operations. These would be across big and small towns ''
Having diversified into the manufacturing of lighting products such as bulbs and tube lights, the Rs 40-crore Jaipan Industries would be pitting itself against big companies such as Bajaj, Philips and Surya bulbs in the business.
“We are targeting revenues of Rs 50 crore from the lighting business and expect the company to grow between 15 per cent and 20 per cent as a result of this added portfolio.''
Source