India's Tata takes electronics store online

Ratan Tata and his successor-in-waiting on Monday launched the Tata group's consumer electronics retail store Croma online.

The Tata chairman heralded the opening of the subsidiary's e-commerce operations with a purchase of smartphones and speakers at a press conference also attended by Cyrus Mistry.

Mistry, a 43-year-old engineer, is currently deputy chairman but is set to take charge of the $83.3-billion revenue group in December this year, when Tata retires.

Mistry was announced as Tata's successor late last year.

Neither interacted with the media at Monday's launch, which was one of the first events where the pair have shared the same stage.

Croma, India's first consumer electronics and durables retail chain, with 72 stores across the country, was formed by Tata's Infiniti Retail in 2006, in a technical agreement with Australian retail giant Woolworths.

(c) 2012 AFP