Hypercity Retail (India), part of the K Raheja Corp Group, is planning to open 9-12 large format stores in tier I and II cities in the next three years. It has opened its 11th store in Pune and the 12 th store is opening in Ahmedabad in the next two weeks.
Commenting on the expansion, Simon Hooper, COO, Hypercity Retail said, "For the next three years, the company will be focusing on tier I and II cities for the expansion. We will open three to four stores every year in these cities. The organised retail market in India is growing at 15-30 per cent year on year. The retail sector in India is in great demand and we are tapping this market to deliver best products and services. The footfall is increasing in all the stores. Over 13 lakh customers visit Hypercity stores every month."
Hooper did not disclose the investment details to open large format stores. The other stores are in the cities like Mumbai, Hyderabad, Bengaluru, Bhopal, Ludhiana, Jaipur and Amritsar.
The size of these large format company-owned stores is between 80,000 and 150,000 sq ft. Hypercity competes with Tata's hypermarket chain Star Bazaar and Landmark Group's Spar Hypermarket stores in India.
Hypercity stores offer over 44,000 products including fresh vegetables and fruits, food and grocery, electronics and home, sports, toys, stationery, apparel and footwear.