Loot Stores ties knot with TCS
The Loot, discount retailer of branded apparel, has entered into an agreement with Tata Consultancy Services (TCS), the largest IT company in India.
The latest alliance with TCS is a part of the retail chain's three-year investment plan of Rs 100 crore to manage back-end operations, in-house training, warehouse upgrade and marketing.
Under the arrangement, the Tata Group company will manage the back-end and software support system for the retail chain, which includes entire support system for points of sale, logistics, online sales and distribution.
Apart from latest development, the Loot is also planning to set up around 90 more outlets across the country by March 2010 and launch two more private labels.
The LOOT currently operates 30 stores in cities like Mumbai, Delhi, Pune, Goa, Surat, Ahmedabad, Aurangabad, Navi-Mumbai, Mysore, Bangalore, Jabalpur, Raipur and Nashik.
The Loot aims to achieve a turnover of Rs 125 crore by this year.
The firm had recorded Rs 75 crore turnover in 2008-09.