Valdel Corporation, formerly MS Ramaiah Group of Companies, has announced its foray into the organised retail segment with the launch of FamilyMart, a 1 lakh sqft shopping centre.
The mall is scheduled for launch during Diwali. The company is expecting about 15-20 per cent net margins from this venture.
With an investment outlay of Rs 25 crore, Valdel has also established a partnership with Suiwah Corporation Bhd, Malaysia in 2002.
Suiwah is a public-listed company with a turnover in excess of $ 70 million. Since Suiwah's main business comprises supermarkets and department stores in Penang, Valdel would procure all its retail needs from Suiwah.
This initial investment outlay of Rs 25 crore also includes sourcing of goods to commence operations later this month.
FamilyMart would be positioned as a supercentre and would cater to all requirements of family. Targeting the middle and the upper middle class, another important USP of this mall would be the ample parking space for about 350 cars and 400 two-wheelers.
The mall would consist of departmental stores, food court etc. While the supermarket would branded as
