Unperturbed by the deep slowdown in retail business and overall economy, industrialist Sanjay Dalmia has chalked out ambitious plans to create a $200-billion global retail chain in the next five years.
“Going ahead, the growth engine for my business will be retail. We have already started in India and this year would start expanding across the world,” said Dalmia, chairman of ash-maker GHCL.
“In five years time, I want Rosebys to be present almost in all the countries in the world… My target is to achieve a turnover of $200 billion (Rs 10,00,000 crore) and become one of the top retailers globally,” he said in an interview.
The group’s turnover, at present stands at about Rs 2,000 to 2,500 crore, Dalmia said, admitting that his plans were ambitious as it talks about a growth of 400-500 times.
“You need to be ambitious… You have to think big, if you want to grow big,” he said, when asked whether his plans were not too ambitious.
In 2006, GHCL had acquired UK-based home textiles retail chain Rosebys, which had about 300 stores at that time, with an investment of $45 million. However, hit by the global recession, Rosebys had to later close down the operations, like many other retailers in the UK and other parts of the world.
Dalmia said Rosebys is, at present undergoing financial restructuring in the UK, but the group has taken out the Rosebys brand out of this exercise and would start afresh to expand its presence across the world.
“We already have 50-60 Rosebys stores in India,” Dalmia said, adding that the entire range of household items would be sold in these stores and the plans would create 20 million direct and indirect jobs across the country. The target is to have 300 stores by the end of this financial year, he said. “We have started in India and later this year, we plan to restart Rosebys stores in the UK. Thereafter, we would move to Poland and Romania in Europe and then to the eastern countries such as Singapore, Malaysia, Indonesia and Thailand,” he said.
Later, we might look at expanding into China and Japan in Asia, then at American and German markets, he added. Noting that his plans might appear too ambitious, Dalmia said, “It’s my mission and objective to revive the Dalmia name as a household name.”
“People who built the Dalmia group, had started from scratch… They did what was unthinkable at that time and started one after another industry such as sugar and cement.”
“When you start, there are many difficulties, but you need a vision and confidence to create an empire,” he noted.
Source: Financial Chronicle
