Tiles maker Nitco to open a dozen new stores to expand retail reach

Tiles maker Nitco on Monday said

that it would open around a dozen new stores in various states to expand its retail footprint, as real estate and construction will pick up in the coming months.

The company plans to open 10-12 new outlets over the next two-three months in Chandigarh, Kolkata, Amritsar, Haryana, Kerala and Tamil Nadu.

Of these, the size of three will be large, while the remaining ones will be medium or semi-medium sized, Nitco said.

The company has opened around 60 stores in the last few years and has 120 active franchisee-run stores in the country. It also owns 10 exclusive display centres under the brand name ‘Le Studio’.

“Opening up more stores in various states over the next few months shall further strengthen our presence in these geographies going ahead. While the economy came to a near stand-still following the outbreak of coronavirus in April, things have begun to look better over the past few months.

“We remain optimistic that the pick-up in real estate and other construction-related activities will boost demand for tiles and other products going ahead,” Nitco Managing Director Vivek Talwar said.

The company managed to turn the tide from July 2020 onwards and managed three-fold improvement in sales volume during the second quarter after a sluggish first quarter owing to the lockdown.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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