HyperCity Retail (I) Limited and Shoppers Stop Limited of K Raheja Group have entered into Punjab with the launch of its stores in mega-mall AlphaOne in Amritsar.
HyperCity has come up with its sixth store spread over one lakh sq ft. This store will carry a range of over 45,000 branded products catering to needs of the entire family. The store will have merchandise across categories like food, grocery items, home appliances, clothing, children?s toys, games and sports goods.
The firm has a plan to add four stores by 2011, each with an investment of about Rs 20 crore. BS Nagesh, vice-chairman, Hypercity Retail (I) Ltd. said, ? This is our first store in Punjab and also marks our foray into North. HyperCITY houses well-acclaimed international brands like Waitrose and Raleigh.?
?Currently we are present in Mumbai, Vashi, Jaipur and Hyderabad. The chain plans to introduce more product categories under its private label brands. Private labels contribute to more than 20% of our sales?, vice-chairman said. The chain is expecting to achieve Rs 600-crore turnover in 2009-2010. The company hopes to break even by 2011-12.
Shoppers? Stop Ltd, the 18-year-old retail chain promoted by K Raheja Corp, brough its 29 th store in the mall. Talking to FE, Govind Shrikhande, customer care Associate and President and CEO-Shoppers? Stop Limited said, ?We will open 18 stores across the country in about 30 months. We will be coming up in Chandigarh , Mohali Jalandhar and Ludhiana.