Chhabrias prepare for a Jumbo ride here

BANGALORE: The Dubai-based Manu Chhabria family is rekindling Indian business interests after divesting controlling stake in many companies including Shaw Wallace & Co and Dunlop sometime back. It is preparing to launch the $1-bn Jumbo Electronics – the family’s flagship with stores across the Arabian Gulf — in the fast-changing domestic retail landscape on its own.

A source said Jumbo’s electronics retailing operations will kick off from the NCR region in the near future, and parleys were on with the key vendors for finalising the business plan.

Jumbo has been holding talks with realty majors like DLF and another prominent Indian business family for a joint venture, but it could now be veering towards making a solo foray. Komal Chhabria Wazir, the second daughter of the estate, who steered the Indian businesses previously under the late business tycoon Manu Chhabria, could be actively involved with the comeback venture.

When contacted, a Jumbo Group source said India plans were active but “a few approvals/ decisions are pending”. However, the source confirmed Jumbo Electronics, majority-owned by the Chhabrias, was considering initial rollout from Delhi, with one of the registered group entities in the country being the entry vehicle.

The Chhabria estate is expected to meet and unveil plans shortly after looking at the final business plan and investment figures. “A decision on whether the entire family — group chairperson Vidya Chhabria and three daughters — are involved, or if it is to be managed by one or two of them will have to be taken,” a source close to the family said.

It must be mentioned the late Chhabria built a business empire spanning across the Middle East and Indian sub-continent, with Jumbo Electronics dating back to the early 70s at the core. He exploded on the Indian scene in the 80s.

But following the tycoon’s sudden death in April 2002, the estate headed by his wife began divesting companies such as SWC, Dunlop, Mather & Platt, Hindustan Dorr Oliver and Gordon Woodroffe in a bid to focus on the original electronics retailing company.

During his lifetime, the late Chhabria had made plans to bring Jumbo Electronics into India and now it could be finally foraying into the highly competitive sector .