Andhra Pradesh based, Vah Magna group of retail chains operating FoodEx Supermarkets and Hypermarkets has launched its first Cash & Carry format store in the outskirts of Hyderabad. Vah Magna Cash & Carry store setup at a cost involving Rs 22 crore is located at Vasanthalipuram on the Vijaywada highway. The store is a whopping 60,000 sft in size. Vah Magna has joined the elite group commanded by Metro. Reliance, Pantaloon and Bharti WalMart also have plans for Cash & Carry retailing.
The company plans to develop and retail its own private labels. K. Anjaneyulu, founder of Vah Magna is the original promoter and developer of Trinethra supermarket chain sold to Birla Group’s More Retail. Mr. Anjaneyulu said,
In the next 2 months the group will launch Vah Magna Super Centre formats which average 100,000 sft in size and additional supermarkets to expand the retail presence in the state.
The company currently has 65 retail outlets in Adnhra Pradesh covering 3.6 lakh sft of retail space. The company also has chalked out plans to expand in Karnataka, Orissa and Madhya Pradesh in the next 24 months.