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Retailord Sees Leads For Apparels, Antiques & Home Appliances
Added: (Sat Dec 29 2007)
Retailord Sees Leads For Apparels, Antiques & Home Appliances
Retailord dealing in apparels, antiques and major home appliances is planning to take over Leads Retailine International to tap inorganic
growth for its offline stores. Speaking on this India Head for Retailord Operations and Retailord.com Mr. Lalit Kumar said" The competition
from big stalwarts that are veteran in retail industry has forced us to look for various alternatives pertaining to inorganic growth, talks
are on advanced stage to buy out Leads Retailine International (LIR) to leverage its workforce and market for significant growth of
Retailord. As we know that LIR also deals with apparels, antiques and home appliances so it is in sync with our business model."
Adding more on this, LIR CEO, Bali Nanavati said" After seeing the smart and high growth of Retailord we felt this is the right company
for us and moreover there will be no lay offs only some shuffling would be done on management and senior level and our board
unanimously agreed to proceed with the sell out."
it is known fact that Bali Nanavati would become Director in the Board of management. We should also take this in to account that his
brother Swaraj Nanavati who is 32% stake holder was initially reluctant to go for complete sell out. However after round of talks he
followed the Board Instructions.
Retailord is planning to disaffiliate its online site Retailord.com from amazon and instead concentrate on its offline business speaking on
this Mr. Lalit Kumar said" we are right now creating huge network of online franchisees and there will be revamp of the retailing site
Retailord.com, soon you will find it in new avatar. In the meantime instead of keeping site status down, we have tried to make it
associate site of amazon.com on very small scale. we are of the opinion that after complete amalgamation of LIR in to Retailord we
would have ample approach for restructuring Retailord.com. At present you get to buy apparels, antiques and home appliances from
Retailord.com only the difference is it is selling these products on behalf of most trusted world leader amazon.com. We assure you that
by the end of march you will find some huge transformation in Retailord.com, having its own products and services just like its offline
stores." Reproduced and Edited By Anne Zinta for http://www.retailord.com News Division © Retailord.com. All Brands mentioned are
properties of their respective owner. Apparels, Antiques & Home Appliances are Category product
wise of Retailord, also accessible UD http://www.retailord.com an associate of amazon.com.