Chhaabrias Poised for Re-Entry into India

UAE based Chhaabrias group of The Jumbo Group has decided to take the retail route to re-carve a substantial presence in Indian business market.

The group will make the entry through their UAE based flagship
company Jumbo Electronics and prepared to introduce its multi
brand electronics retail chain called JUMBO.

The first store of the company will come up in the Capital in
the next three months.

Although, the company has not formally announced its entry into
the country yet, but it has appointed the former marketing chief
of Electrolux India, Ajay Kapila, as its country head who was
serving at a senior position with Jumbo in the Middle East, informs
an industry source.

Mr. Kapila has set the work on course by forming a small team
and is all set to open the company’s first outlet. Jumbo will
involve itself only in market for electronic retailing including
the products such as audio/video, telecom, and IT.

The company
would not sell appliances such as refrigerators, air conditioners,
and washing machines.

As per its medium term plans, the company envisages to open about
20-25 stores in the next 1-2 years, informs the sources from
industry.

The company has several plans regarding how Jumbo will put itself
on the track to make investments in Indian retail sector.

It
is believed to capitalize on their NRI status to route their
investments. It has even formed a new company Jumbo Electronics
Corporation Pvt. Ltd.

The Chhaabrias still holds a controlling stake in Narmada Gelatines,
it had been in search for potential investors and even sold 2%
stake in the open market in February-march 2007.