Digiworld aims to treble revenue to Rs 2,000 cr by next year

The company, which today unveiled a new logo, has 428 stores and is aiming to have 750 outlets by yearend

Videocon Group consumer electronics retail firm Digiworld today said it is aiming to nearly treble its revenue to Rs 2,000 crore by next year as it embarks on an expansion phase, mainly in Tier-II and Tier-III cities.

"We are expanding our reach and will have 1,000 stores by mid-2013. We are adding 35-40 outlets per month," Digiworld Chief Operating Officer Jaideep Rathore told PTI here.

The company, which today unveiled a new logo and brand identity, currently operates 428 stores and is aiming to have 750 outlets by the end of this year, he added.

Out of the proposed outlets, about 90% will be under the franchise mode.

"We will focus more in smaller Tier-II and Tier-III cities where the presence of organised retail is almost negligible. About 70-75% of our new stores will be opened in such smaller towns. Our focus is on north and west India, followed by southern and eastern region," Rathore said.

Digiworld will invest about Rs 10-15 crore to open company owned stores, while the rest will be put up by the franchise partners.

Talking about the revenue, Rathore said the company is targeting Rs 1,200 crore in this year compared to Rs 700 crore last year.

"With our current growth rate, we will cross Rs 2,000 crore sales revenue by 2013," he added.