Finolex Cables Ltd, a renowned Indian manufacturer of electrical & telecommunication cables, has reportedly announced that it plans to open 50 new retail stores – named Finolex House – by the year 2019.
Sources familiar with the knowledge of the matter cite that the move is in line with the firm’s strategy to expand its presence in the retail sector. Following the announcement, the first Finolex House was recently inaugurated formally in an event that was attended by the firm’s Executive Chairman, Deepak Chhabria.
According to a report by Franchise India Bureau, the Finolex House brand store would be serving as a one-stop shop for its customers who are building or renovating their houses. The store would be offering electrical solutions to its customers for constructing a safer electrical layout for their homes using the firm’s high-quality products ranging from electrical fittings to cables.
After inaugurating the first exclusive brand store, the Executive Chairman of Finolex Cables, Deepak Chhabria reportedly stated that the company’s goal is to provide complete electrical solutions to its customers throughout India. The company is thrilled to get the first exclusive brand store up and running in Chennai. Chhabria further added that the company plans to launch an additional 50 Finolex Houses across India’s key cities by 2019.
In an effort to provide an optimal shopping experience to its customers, the company’s experts at the store would be helping them to select appropriate products that would fulfil their needs in constructing a safe & secure home.
For the record, Finolex Cables boasts of about 3,500 channel partners and has approximately 40,000 dealers throughout the nation. The firm has its manufacturing facilities in Uttarakhand, Goa, and Pune, cite reliable sources.
According to reports, the financial information related to the matter has not been released to the public yet.