IOC to seek franchises at 2,000 fuel outlets

Indian Oil Corp. Ltd. (IOC) has decided to enter the retail business at some 2,000 of its 16,455 retail outlets, banking on alliance partners to sell a wide array of products and services, from groceries to railway tickets. Technopak Advisors, consultants hired by IOC, made detailed recommendations on what can be stocked at these outlets and the store format suitable at each of the selected stores. IOC is planning to partner with existing retailers, such as Apollo, Subhiksha, Crossword and Café Coffee Day. If successful, the retail network will be rolled out over the next two years with a majority of the investments being made by partners and dealers. (July 12, 2007)