Search the Internet          Tips  Sites: Finance, Investment

RPG to unveil hypermarket in Hyderabad on June 27

BS Bureau

The RPG Group, pioneers in retail consolidation with around Rs 500 million investment in 62 Foodworld stores, 13 Musicworld stores and 18 Health & Glow stores across the country, is now entering a new chain of hypermarket stores.

The first such hypermarket store, Giant Hypermarket, sprawling over a 125,000 sq ft area and displaying over 20,000 consumer items, will become operational at Hyderabad on June 27.

According to Raghu Pillai, chief executive officer of the retail sector of RPG Enterprises, this is the first hypermarket store and four more -- one each in Bombay, Delhi, Madras and Bangalore -- are being planned. The Giant here has involved an investment of over Rs 200 million." The lessons learnt from this new venture would be consolidated and a national roll out is planned over a 5-7 year timeframe across the top 20 cities. The store is expected to gross Rs 1 billion by the 4th year," Pillai told mediapersons in Hyderabad on Tuesday.

Pillai said while Foodworld store was essentially a grocery outlet, the hypermarket stores will have a wide range of product categories, from consumer electronics and durables to garments, apart from fresh food, groceries and home needs.

It would cater to individual customers, institutional buyers and moffusil retailers. All items will be sold at below the maximum retail price.

The setting up of hypermarket stores will not come in the way of further expansion of Foodworld stores. "We plan to increase Foodworld outlets to 100 by the end of 2002," Pillai said.

Kruben Moodliar, chief executive officer, Giant, said that provision has been made for parking 80 four-wheelers and 200 two-wheelers within the store at a time.

Powered by

YOU MAY ALSO WANT TO READ:
The Rediff-Business Standard Special
The Budget 2001-2002 Special
Money
Business News

Tell us what you think of this report