To open 80 stores in the next four months
Hyderabad, September 20, 2006
Sensing an upcoming threat from large retail market entrants, Subhiksha, the supermarket-cum-pharmacy store has made an ambitious plan of opening as many as 80 stores in the state. These stores will be in place within four months time, 55 of which will be ready by this month end.
Subhiksha Trading Services Managing Director R Subramanian said that Rs. 300 crores was earmarked so that the active super marker player would expand to 600 stores by the year 2009. Subhiksha is considering an Initial Public Officer (IPO) but this would be only after one year.
With retail majors such as the Future Group's Big Bazaar, Spencers and smaller players such as Trinethra making big steps to make further inroads into organized retail on one side and the upcoming entry of Reliance and global-giants such Wall Mart, retail and supermarkets are going to see a cut throat competition in the days to come. Customers are waiting to see if all this would mean they shop for products at discounted prices. The sudden demand for retail space has already spurred up real estate prices.
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