Trailing the footsteps of global oil companies, IndianOil has decided to enter the retail business at 2,000 of its 16,455 retail outlets and is planning to partner with existing retailers, such as Apollo, Subhiksha, Crossword and Cafe Coffee Day.
Trailing the footsteps of global oil companies, IndianOil has decided to enter the retail business at 2,000 of its 16,455 retail outlets and is planning to partner with existing retailers, such as Apollo, Subhiksha, Crossword and Cafe Coffee Day. This is a similar concept to the 'In & Out' retail store format of competitor Bharat Petroleum Corp. Ltd, which has formed strategic alliances with major brand owners, retailers and music stores like Planet M and Music World, among others.
IndianOil will start with 50 to 60 outlets in a single region along the lines recommended by Technopak, their consultants. If successful, the retail network will be rolled out over the next two years with maximum investments being made by partners and dealers, and IndianOil getting a share of the business.
To lower its risk, IndianOil is keeping its investment in the retail foray low by franchising the space to organised retailers and also allowing dealers who have the wherewithal to invest in this business on their own. In a related development, IndianOil has also inked a deal with Future Group and Ansal Properties and Infrastructure Ltd to set up fuel retail outlets at malls being built by them.
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