After creating a presence for itself in 12 states with 30 stores, South-based retail chain Odyssey has chalked out vast expansion plans to penetrate 10 news states with 50 large format stores and 200 small format stores across the country in the next two years.
TS Ashwin, Managing Director, Odyssey India, said, “We have a clear road map chalked out with most of the requisite infrastructure in place, the team in form and 70 per cent of the tie-ups with real estate companies confirmed.”
With massive expansion plans lined-up, the company has assigned its creative mandate to Contract for a second time because of the agency’s familiarity with the brand. Contract had earlier won the account in 2004, but lost it mid-2006. Bates 141 is the incumbent agency for the account. Contract bagged the account a second time round without a preceding pitch process.
The media duties are being handled by Network Advertising. According to Ashwin, the total spends on promotion would be in the region of Rs 5-6 crore.
He further said, “Considering the fact that Odyssey is more of a neighborhood luxury and experience store, there is no point in building a brand. Hence, the promotional activities will be predominantly store related events, book and author sessions, and other below the line activities.”
Odyssey plans to foray into new territories in the next two years and East is one such maiden venture for which the company has planned four large stores and 10-15 small stores, with its first store in Kolkata opening on July 21. The store is spread over an area of 23,000 sq feet in a property developed by Merlin Group.
Commenting on Odyssey’s progress after it was fully acquired by Deccan Chronicle in 2005, Ashwin said, “The growth has been phenomenally high. Deccan Chronicle has been a fantastic support and its brand name definitely gives a lot of leverage when holding talks with the big market players in the related field.”