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Odyssey in Calcutta: “A Mystery Unsolved”

Author(s): Ashutosh Kar | Sudip Kundu

Journal: American Journal of Economics and Business Administration
ISSN 1945-5488

Volume: 2;
Issue: 2;
Start page: 136;
Date: 2010;
Original page

Keywords: Specialty retail formats | catchment area analysis | Gross Margin Return On Investment (GMROI) | leisure shopping

Problem statement: Deccan Chronicle Holdings Limited (DCHL), the publishers of Deccan Chronicle in September 2005 approved the acquisition of south based retail chain Odyssey India Limited. Odyssey came with a Specialty Format, having introduced affluent product lines ranging from books to music, leisure, games and gifts. The success stories in all the 13 cities, mostly in the lush, sultry South, resulted in its rapid entry to the so called Culture Capital in July 2008. Odyssey launched one of the large format retail stores in South Calcutta with area coverage of nearly 30000 square feet. In its attempt to redefine leisure shopping experience for Calcutta’s people, they offered world-class ambience for undisturbed and relaxed shopping experiences. Within 10 months of its commencement, Odyssey closed down on 10th May 2009. Approach: The secondary data analysis had been done. The newspaper report, internet had been consulted to get the data. Results: A combination of expansion planned going wrong, high rentals and dipping spends made Mission Calcutta impossible for Odyssey. Within 10 months of its commencement, Odyssey closed down on 10th May 2009. What went wrong in such haste? Conclusion/Recommendations: Further research should be conducted based on the primary data. More conclusive results can be obtained if interviews of some employees of Odyssey Kolkata are conducted. Further a detailed questionnaire highlighting the attributes for estimating utility under conjoint analysis should be done.
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