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Saturday, November 26, 2005

Kinfotech Branches Out Into Retail

Bangalore-based Kinfotech, specializing in security and storage solutions, has set up two retail outlets called Software Duniya and Children's Software.

These outlets are located in an IT Mall in Resthouse Road, a commercial area in Bangalore. IT Mall is said to be the first of its kind in Bangalore, and is designed to contain 64 shops.

According to M. Prabhakar Kini, managing director of Kinfotech, the two outlets have been started on an initial investment of Rs 20 lakh under the name of Firstbest IT Mart and the investment may increase in the coming months. Kini clarified that this venture would be completely disassociated from Kinfotech.

He said that Kinfotech will not pump in any money into the new venture, and it will be completely debt-free.

The one-stop shop venture is going to be self-contained, stocking a whole range of software cutting across age-groups. Kini said that he expects to break even only after two years, and that entering the retail space was a natural progression.

Kini is promoting sales in the retail outlets by offering a 20 percent discount on prices of the products.

Kini has also started a training institute called Firstbest School of Marketing in Gandhi Bazaar, Bangalore. This venture he hopes would help tide over the shortage of sales and marketing personnel among the IT channel.

The institute will be providing diploma courses in IT marketing, which is designed to enable aspirants to understand the needs of the market. The institute promises its students placements at the end of the courses. Kini also added that if any student fails to get employment within three months of his finishing the course, Firstbest would refund 50 percent of the course fee.

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