Dalmia bets big on retail; aims $200-bn turnover in five yrs

Unperturbed by the deep slowdown in retail business and overall economy, industrialist Sanjay Dalmia has chalked out ambitious plans to create a $200-billion global retail chain in the next five years.

"Going ahead, the growth engine for my business will be retail. We have already started in India and this year would start expanding across the world," said Dalmia, also chairman of the country's leading soda ash maker GHCL.

"In five years time, I want Rosebys to be present almost in all the countries in the world... My target is to achieve a turnover of $200 billion (Rs 10,00,000 crore) and become one of the top retailers globally," he said in an interview.

The group's turnover currently stands at about Rs 2,000-2,500 crore, Dalmia said, admitting that his plans were ambitious as it talks about a growth of 400-500 times.

"You need to be ambitious... You have to think big, if you want to grow big," he said, when asked whether his plans were not too ambitious.

In 2006, GHCL had acquired UK-based home textiles retail chain Rosebys, which had about 300 stores at that time, with an investment of $45 million.

However, hit by the global recession, Rosebys had to later close down the operations, like many other retailers in the UK and other parts of the world.