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The K Raheja group of Shoppers' Stop is spreading its wings in retailing. The group plans to open 35 hypermarket stores across the country. The stores, called \\\\\\\'HyperCity\\\\\\\', will sell a variety of goods from groceries, vegetables and me
The firm is close to finalising two properties in Mumbai and is also looking at Kolkata and some other cities for a slice of the country's retail pie. Till now, it has opened only one HyperCity store, in Malad (Mumbai).
Although no deadline has been set for opening these stores in the country, it intends to do so as soon as possible. The second HyperCity in Gurgaon will open trade by the end of 2006. The third store outside Thane (Mumbai) will see HyperCity as the sole anchor of a mall covering some 1.2 lakh sq.ft of space.
Apart from tier-I cities like Bangalore, Delhi, Hyderabad, Chennai and Kolkata, efforts are also on to identify properties for outright purchase or lease in tier-II cities. It has identified properties in Lucknow, Ludhiana, Coimbatore, Mangalore, Jaipur and Aurangabad.
The group is open to the idea of making HyperCity anchor stores in malls or undertaking greenfield projects.