Chennai-based consumer durable retailer Vivek's may invite private equity companies to offer a part of its equity to fund expansion plans. Company executives say that private equity players will be roped in before the chain goes in for a public listing by 2007-08. Vivek's has 54 stores across Tamil Nadu and Karnataka and intends to tap the growing durable retail markets in other southern states like Andhra Pradesh and Kerala.
The company plans to open 100 stores in South India in the next three years. Vivek's has three retail brands — Vivek's, Jainsons and Premier — in its portfolio. In March 2006, the company clocked turnover of Rs. 330 crores and is expected to touch Rs. 400 crores by March 2007.
Read the article from Business Standard.
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