Nitco to open a dozen new stores to expand retail reach
Tiles manufacturer 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.
“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 looked better over the past few months,” Nitco Managing Director Vivek Talwar said.
“We remain optimistic that the pickup in real estate and other construction-related activities will boost demand for tiles and other products going ahead.”
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. (PTI)