Calcutta, June 11: Steeljunction, the retail venture from Tata Steel, is on a roll.

Launched barely five months back in Calcutta with a single store, the division is hoping to break even soon.

Sumit Ray, chief (retail initiatives) of Tata Steel, said the company has set a target of nine months to break even at the operational level. “It is a tough challenge, but possible nonetheless,” Ray said.

Sales have picked up at the store, which sports different kinds of steel items ? from construction material like TMT bars to furniture to artefacts.

The development of this model, a first of its kind, is being keenly watched by the top brass of the company.

Depending on the success of the flagship model, the company would set up similar stores in other cities.

The Calcutta store is spread over 23,000 sq ft and the property has been taken on rent. “We have developed 2-3 other formats, going by the experience of last five months. The growth plans ? opening stores and venturing to other cities ? have also been drawn up. After the top management clears them, these formats will be developed,” Ray said.

The formats would be based on different size and product mix.

The Calcutta store has around 400 footfalls per day and the conversion to sales is about 25 per cent. The store will launch its own loyalty programme ? Steeljunction privilege card ? next month to retain customers. Gift vouchers with different denominations will be introduced.

Furniture foray

Tata Steel is planning to lend its name to steel-based furniture. “We are talking to some people who could do it for us. Some prototypes have been designed,” Ray said.

A brand would be launched under Steeljunction for these products.