Calcutta, Aug. 31: City-based plywood maker Century Ply has decided to tweak its retail strategy by planning to go online rather than operating through stores.

Century Ply had entered the readymade retail furniture business in 2012 by opening stores under the Nesta Furniture brand. Company officials today said the business could not break even on account of the high cost of operating stores and tough competition from e-commerce companies such as Urban Ladder and Pepperfry.

"The showrooms are not making profit. So, we are not expanding that business," chairman Sajjan Bhajanka said after the company's annual general meeting here today. He added that the company had been gradually scaling down the number of stores.

Executive director Keshav Bhajanka said the company had around nine showrooms in Calcutta, Siliguri and Ranchi. "Before the end of the year, we would like to wind up this business. Our core strength is in manufacturing. We would like to offer online solutions to our customers instead," Bhajanka said. He added that company might opt for its own e-commerce solution or look to partner existing players.

The company is expanding its manufacturing footprint in Laos by setting up units under both FDI and joint venture routes. The company will also explore opportunities in Indonesia and Africa.

In India, Century Ply is looking to invest Rs 380 crore in a medium density fibreboard plant with an annual capacity of 200,000 cubic metres.