Jai Banerjee Forays Into Own Retail Space
Jai Banerjee, one of the India's most admired retail expert will foray into the retail space with his own venture called Sconto Retail Private Limited.
New Delhi (I-Newswire) August 14, 2013 - Jai Banerjee, one of the India's most admired retail expert will foray into the retail space with his own venture called Sconto Retail Private Limited. Sconto will initiate its business operations from the north east region of India, primarily from the Kolkata, Guwahati and Assam.
Crescenthum Business Partners is the sole advisor to this transaction.
Sconto which means "Discount" in Italian will deal into several consumer goods with a logical product mix comprising of affordable and luxury goods. The first store will be opened in the month of December and will target young shoppers of India. The e-commerce version of the retail venture is also on charts and is being analyzed by the management.
Jai Banerjee said "We are excited about our new venture, the retail in India is highly misunderstood as buying cheap and selling at the higher prices. We at Sconto will add value to the Indian retail by providing a new shopping experience to the consumer. The young generation of India now possess larger allocation of money for buying products of their choice. They have money but they are choosy and they rely on the known brands or the high quality and better marketed products. The question is why any retailer should sell low quality goods when the consumer on the other end is ready to pay for a better product?"
Sconto will open 10 stores by the end of 2014 and may be backed by Exhilway private equity fund. The talks are reportedly on an advanced stage and Crescenthum team is working on the modalities of the investment.
"Jai is a passionate retail expert. Retail is all about passing passion to the consumers, the better you can excite them more you can convince them to buy. Sconto will can grow leap and bounds, we expect them to touch a market cap of US $200 million or INR 1,000 crore by the 2017. We are talking to Mr.Banerjee and his team and we expect to close the deal soon,"said Rahul Sahay, Director of Investments at Exhilway Private Capital Market, India.
About Sconto Retail Private Limited
A professional team of managers from diverse fields of expertise have taken up the challenging proje More..ct of setting up the business under the name Sconto Retail Pvt. Ltd. The company is determined to ensure that it provides merchandise at a fair price with unique value-added services, which would ultimately act as a differentiator for the customer to choose which store to buy from. Such differences will be made by professional managers with hard core knowledge of organized retailing, devising foolproof strategies, putting well thought-out systems and processes in place, integrating commercial principles into business operations, having trained and skilled manpower in field of store management, sales, merchandising, commercial operations, logistics and marketing and by using high ended technologies.Less..
Sconto Retail Private Limited
Phone : 917838398008
Published On:August 14, 2013
Print Release:Print Release
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