Jagdish Khattar aims at setting up 100 Carnation outlets by end-2011
With Premji Invest and IFCI Venture Funds having invested in his dream, former Maurti MD, Jagdish Khattar is now aiming at having 100 outlets of Carnation ready by end-2011. Envisioned as a multi-brand car service provider, each Carnation outlet will be equipped to service cars, will stock car accessories, tyres and batteries etc., and will also provide car insurance services. Each Carnation shoppe will have anywhere between 20-40 work bays, with each being capable of handling 3-4 vehicles per day.
Khattar, who aims to have around 25 Carnation outlets functioning by the end of next year, aims to set up the first one before March 2009. To start with, Carnation outlets will be set up in Chennai, Bangalore, Hyderabad, Amritsar, Noida and Kochi, followed by other towns and cities across the country.
With investments of Rs 80 crore from Premji Invest and Rs 28 crore from IFCI Venture Funds, Khattar should be well on track to achieving his targets with Carnation. As of now, car manufacturers are reportedly unwilling to cooperate (in terms of supplying spares) with Carnation, but Khattar is confident of overcoming that stumbling block in due course of time.
[Via: indiaautomotive]