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The company forayed into speciality retail for the 'mother and child' segment, with products catering to pregnant women, new mothers, babies and small children, this year and now plans to open unspecified number of 'Mom and Me' outlets across the country.
"We are planning to invest Rs 75-100 crore (Rs 750 million-Rs 1 billion) during the first phase of our retail expansion in the mother and child speciality retail, which will stretch for next few months," Mahindra Retail Pvt Ltd MD K Venkataraman said.
He said the company is looking at opening Mom and Me outlets in all metros and Tier I cities, besides foraying into Tier II cities, but refused to give exact number of stores planned.
"We started with one store each at Ahmedabad, Pune and Ludhiana and have now opened our first flagship outlet in Delhi. We are next venturing into Bangalore and Mumbai, besides looking at all the metros and Tier I cities and also looking at Tier II cities," Venkataraman said.
The company aims to achieve a breakthrough in speciality retail, which caters exclusively to one customer or product segment.