Zicom to open 300 retail outlets by 2009

Security goods and solutions provider, Zicom Consumer Service Group, plans to open 300 retail outlets in India by end 2009 reported by Business Standard. The Rs 850 million company ventured into retail in September and plans to expand the number of stores from 12 to 35 in three months. The company plans to have a total of 50 stores by March 2007, 200 by end of March 2008 and 300 by March 2009. Security is a growing need for every segment be it government, religious institutions like the Sidhivinayak Temple and Ayodhya, defence, enterprises or the home consumers and small and medium enterprises, reasoned Pramoud Rao, managing director, Zicom Electronics System. Security is a Rs 10 billion market and growing at 30% to 35% to become a Rs 17 billion market by 2010 he added. The company estimates the home and small business segment to be a Rs 2.5 billion market and expects it to double in size over the next three years.