Jeet India to 'spice up' retail; plans 150 stores

Packaged spices seller Jeet India is trying to cash in on the retail boom in India and will soon set up 150 exclusive spice retail stores in the country."The first three stores would come up in Delhi by the end of next week and the company would subsequently open more stores to take the total number to 150 in the next four years," Praveen Kumar, MD of Jeet (India), said.

He said the outlets would be based on a departmental store format and will also sell regular kitchen essentials like pulses and flour.

The company would also set up a bakery and a coffee shop in every spice retail store but expects a chunk of its revenues from the spices business only.

"We would also sell confectionery items in the retail stores, but expect almost 90% of our revenues from the spices business only," Kumar said.

Apart from setting up wholly-owned stores, the company would also follow the franchise model to expand its reach in the country.

"Through the retail chain we would be able to eliminate the distributor channel and would pass on the benefit to the customer directly. The prices of our products would be less then the regular market price," Kumar added.

The company is expecting revenues of about Rs 60 lakh from each of its stores.