Vishal Retail – Mega Mart which recently raised Rs 110 crore in an IPO has planned Rs 200 crore expansion involving setting up 40 additional stores mostly in North India. Mr. Ramchandra Aggarwal, MD of Vishal Retail said,
In addition to 53 stores that we have at the moment across 41 cities, we want to start 40 more this fiscal involving an investment of Rs 200 crore.
This will give Vishal Mega Mart a strong foot hold in North India.
Pyramid Retail’s Trumart is expanding in-store labels. Real Estate Land Sharks like Purvankara and DLF have derailed the dreams of many retailers and that’s the reason these retailers are looking to expand in Tier-II cities such as Jaipur, Nagpur and Ahmadabad. To sustain margins, trumart is creating more private labels and doesn’t involve any marketing cost.
Trumart will launch private labels in household cleaners, oil and grocery by the end of this year. They hope to price competitively and will likely be lower than other brands.
The RPG Group managed Spencers Retail is foraying into garment retailing said industry sources. These would be exclusive stores retailing only garments. We checked out Spencers hypermart and we found that it already stocks “basic garments” which is contributing nearly 16% to its topline.
Mr. Samar Singh, VP of Spencers said,
In addition to increasing garment retailing in hypermarkets, we will be launching exclusive garment retail stores similar to our music and book stores.
You all know that Spencers was the first to introduce the concept of music retailing with “Music World” chain of stores, followed by “Books and Beyond“[Retail chain of Book Stores] and “RPG Cellucom“[Retail Chain of Mobile Stores]