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Apr, 01 2007

K Raheja retail venture to have 55 stores by 2015

K Raheja Corp-promoted retail venture Hypercity Retail (India), which does not have any store at present, plans to set up 55 stores across the country by 2015. They also plan to open three stores this year, many of which will be large-scale stores called

Targeting the middle class, the hypermarkets and supermarkets will be located in tier I and II cities. While a vast majority of stores will be hypermarkets, in an area of 70,000 to 1.5 lakh sq.ft, some will also be supermarkets, half the size of a hypermarket. The stores will stock a wide range of goods, ranging from food and grocery, apparel, durables and home furnishings.

Hypercity will source 70 per cent of merchandise from India while the rest, including electronic items, food products and sports equipment, will be imported. It will also have 100 per cent private apparel labels, having already developed three labels for men, women and children. They will have international labels in crockery and linen that would be exclusively to Hypercity for use in India. The company will also develop private labels in food. It will source 95 per cent of food and grocery from the local mandis, but is looking at working directly with farmers in the long term.

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