Fobaz to invest 600 mn for retail photo stores

Friday, 22 December 2006, 06:00 Hrs
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Chandigarh: Fobaz (Foto Bazaar), a leading Internet-based provider of photographs, will invest nearly 600 million in Punjab, Haryana and Himachal Pradesh over six months to create a chain of photo retail stores that offer a variety of services for photography.

Fobaz CEO Virender K. Ahluwalia said that the company would not only offer services like printing of photographs but also specialized and personalized services like printing photos on calendars, greeting cards, T-shirts, mugs and other gift items.

Ahluwalia said that the concept of having a photo retail chain was to provide online facility to customers to send their photos and get printouts or personalized items at affordable rates.

"We are in touch with some of the big photo retailers in north India and would be announcing our tie-up shortly," Ahluwalia said.

The photo retail industry in India is worth 45 billion. Despite the country having over 154,000 photo retailers, there was no organised chain.

Ahluwalia, whose family roots are in Punjab's industrial town of Phagwara near Jalandhar, said he returned to India from the US after a 25-year career to invest in the photo printing business.

He said the services provided by Fobaz would be helpful for nearly 10 million NRIs settled in other countries to connect with their families, friends and native places in India.
Source: IANS
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