Multi-brand discount chain The Loot on Tuesday said it has entered into an agreement with IT major Tata Consultancy Services (TCS) under which, the Tata Group company will manage the back-end and software support system for the retail chain.
The Loot is also ramping up its retail operations by aiming at a total of 200 outlets by the end of this fiscal, besides, launching two more private labels as it plans to achieve a turnover of Rs 125 crore this fiscal.
“We have just signed the deal with TCS which will cater to our entire support system for points of sale, logistics, online sales and distribution. The software support system will be rolled out within a month,'' The Loot Managing Director Mr Jay Gupta sa id.
He said the tie-up with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to spruce up back-end operations, in-house training, warehouse upgrade and marketing.
“The TCS contract is under a leased model. It is to get our basics and back-end right for the planned expansion of our retail operations,'' Mr Gupta said.
The Loot had recorded a Rs 75 crore turnover in 2008-09.
“This year we are looking to take it to Rs 125 crore, on the back of new launches and expanding the retail network,'' he added. - PTI
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment