Subhiksha, the first and fastest growing retail chain in Punjab is planning to add 45 more outlets in the next six The retail company has initiated Rs 500 crore phase II expansion to make a foray in MP, Punjab, Haryana and West Bengal. Plans to infuse Rs 50 crore to launch its retail network in Chandigarh, Mohali and Panchkula. At present the company is running 19 outlets in the three cities apart from 31 outlets in other districts of Punjab and Haryana.
"The company would double its retail space to 3 lakh square feet in Punjab and Chandigarh region from 1.5 lakh square feet by the end of current fiscal," Mrinal Roy, president, northern region, Subhiksha revealed. "The strategy is to provide an outlet for 10,000 family at in the neighborhood, Roy said."
The company has so far concentrated in the three cities is now taking its retail across other major cities in Punjab and Haryana, he added. The company is aggressively looking for retail space in Ludhiana, Patiala, Jalandhar and Amritsar.
The outlets to be launched in Haryana would be located in districts of Ambala, Karnal, Yamunanagar, Panipat, Sonepat and
Kurukshetra. "Studies are being conducted for the other Northern states Himachal Pradesh and Jammu & Kashmir for the retail expansion that would be incorporated in future," Roy said.
The company executive said Subhiksha would continue with its image of convenient store at neighborhood and entering glittering malls is not on agenda. "By not entering malls the company has been able to curtail the overheads on acquiring retail space thus passing on benefits to the customers. The success of our retail model has urged other retail giants to follow our foot trails," he said.
Apart from the four categories namely grocery, perishables, pharmaceutical, and telecom the company is open to add new products. "Addition of new products is a continuous process based on customers feed back. The company recently added bread to its shelf following strong demand from the customers," Roy said.