The company has earmarked a capital requirement of Rs 500 crore for the project for the next five years. However, during the first year it plans to invest Rs 100 crore which is being funded by the three promoters of the companyMs Madhumita Nair, Ms Abha and Mr Sanjeev Nayyar.
Targeted at the lower and middle class, the company plans to source most products from its own manufacturing unit. However, it will also source products directly from manufacturers and thereby pass on the price reduction to the consumer. We will offer a saving of 10-15 per cent in a monthly budget, claims Super Shoppers CEO and group head Sanjeev Nayyar.
The chain is also offering service initiatives such as air/rail and cinema tickets. Besides, it will offer the convenience of collecting various bills. Courier service will also be available. The upcoming retail chain also promises to have a toll-free number for free home delivery.
The outlets will also stock fresh fruits and vegetables which will be sourced directly from farmers.
The company also plans to encourage women entrepreneurs to open outlets or small-scale manufacturing units by providing them loans. It will also open company-owned outlets.
According to Mr Nayyar, each outlet is expected to be of about 300 sq ft.
Super Shoppers hopes to break even in a period of two years and expects to post a turnover of Rs 500 crore in the next five years.
In the first year, it hopes to achieve a sales turnover of Rs 10 crore.