Universal begins construction equipment retail biz
Pune-based Universal Construction Machinery and Equipment Ltd has begun its construction equipment retail business with the launch of "Universal Exclusive Stores" in Patna, Bihar. The company will expand its retail format to cities like Kurukhetra, Surat, Nagpur, Jaipur and Hyderabad in next two to three months and will launch a total of 35 stores in next five years.
Universal Exclusive Stores will house all Universal brands and give offer sales, after sales service and spares. These stores will be run by franchisees which will be opened in metros as well as tier 2 and tier 3 cities.
Ranjit More, MD, Universal Construction Machinery and Equipment Ltd, said: “Bihar is currently on a growth path with a lot of infrastructure projects being undertaken which include roads, bridges etc. Because of these projects, local labour and labour contractors are coming back to Bihar. We thought that this is the right time to launch retail business in Bihar. Apart from sales, service and spares, we are also conducting workshops and onsite training camps.” He said that the company has also launched equipment buy back scheme in Bihar.
“The response for our initiatives is good. We already have 80% market share for concrete equipments and 90% market share for mini dumpers in Bihar. We expect to garner a business of 15-18 crore this year from Bihar,” he said.
Ranjit More added: "Our retail format business is divided into three initiatives viz Universal Exclusive Stores, Universal Constore and Universal Signature Stores.”
Universal Signature Stores will host only the premium and high end equipments of Universal like batching plants and reversible drum mixers while Universal Constore outlets will host all the leading brands in construction equipment apart from Universal.