Rahul Gupta
MUMBAI: Polaris Retail Infotech Ltd. (PRIL), a wholly owned subsidiary of
Chennai based Polaris Software labs is all set to launch its new generation
application suite 'Retail Excel' for global retail industry.
Targeted at large format retail outlets, the company will launch this product
in two phases. In the first phase it will leverage a new construction and
architecting technology methodology 'Coffet', which ushers in a totally new
approach to technology in retail business. This phase will be launched this
month while the second phase of the product will be launched in November wherein
some new features will be added to the product.
The company will launch this product in India, Australia, Middle East and
South East Asia in the first phase. The price of the product ranges from Rs 10
lakh to Rs 70 lakh. The company is expecting a revenue of around $ 5 million in
first year and around $ 50 million in the next five years. It is also eyeing
around 20 percent market share in this segment this year.
Polaris Retail director and head of business, Nat Narayanasamy said,
"With the retail industry witnessing astounding growth rates in mature
economies, like North America and Europe, along with specific pockets in the
Asia pacific region, there is a greater need for cost-effective, comprehensive
and simple retail solutions that can help fuel growth and facilitate market
leadership."
Retail Excel is a new generation retail business application suite that
understands the needs of the retail industry and addresses them in a simple,
easy-to-use format that makes it a user's delight.