AVA eyes Rs 100 crore turnover in 2012-13; to invest Rs 20 crore

CHANDIGARH: In-flight shopping solutions company AVA Merchandising today said it is eyeing a turnover of Rs 100 crore from its retail venture and plans to scale up its operations by opening outlets in 15 more cities in 2012-13 with an investment of Rs 20 crore.

"We are targeting total sales of Rs 100 crore in next fiscal up from Rs 50 crore in 2010-11 as we expand our retail business's penetration," AVA Merchandising Director Amit Chopra told reporters here today.

The company which is into in-flight retail business in domestic aviation currently has presence in 32 cities. It caters to 5 per cent of passengers flying in Jet Airways and Air India.

"We will increase our penetration in Jammu, Leh and North Eastern parts of India, entailing expenditure of Rs 20 crore," he said, adding that the company is planning to target Tier-I and Tier-II cities because of huge potential for this segment in these areas.

AVA is offering products with a mix of men accessories, designer jewelry, watches, bags, electronics and electrical items. These are sourced from brands like Swatch, LG, Reebok, Swarovski, Bang and Olufsen, De Beers, Provogue, Samsung.