Modi sees future in retailing

Karma Negi

New Delhi

April 29, 2004

Modi Peripheral is all set to enter the retailing business and is scouting
for an appropriate location. Informed Modi Peripherals director JP Modi,
"Retailing is the future and we want to establish ourselves in this line to
so that by the time retailing becomes a big business we have firmly established
ourselves here."

Right now, the company is in the process of finalizing the place for the
retail outlet, which will display only HP-Compaq products. Reviewing the
performance after six months, the company would decide to open more such
outlets. He said that in the next two months the retail showroom would be
functional.

Modi also commented, "We have the back up of our office in Nehru Place
where we deal with dealers, channels and have a command over channels and also
have support from the vendor. Therefore, with such a position we are at a very
beneficial standing."

In the last few months the younger generation of Modi's have also joined the
business. With degrees in MBA and bubbling with new ideas Modi's feel that there
is a need to do something more than selling and buying. "With the younger
generation joining us, we also felt that they need to do something more,
therefore we have started to look at retailing and including more products in
our kitty," Modi said.

The company is also opening an office in Safdarjung Enclave, which will look
after corporate and government sectors. Though it does have a separate office in
Nehru Place itself but as Modi said, "The place has now become smaller
therefore we would be shifting our corporate and business group to this new
office. And now that we are growing our business we would be recruiting more
people."

Because of this office it has for the time being postponed its plans to open
office in NOIDA and Gurgaon. But once the office is in place it will start
concentrating on opening office in NOIDA and Gurgaon.

Recently Modi also added Philips in its portfolio and plans to add more
companies to its kitty once it starts getting better margins and sales. On his
expansion mode Modi commented, " IT market is growing and therefore we have
to work more hard and make efforts in whatever we are doing."

- CYBERMEDIA NEWS