National Dairy Development Board subsidiary Mother Dairy Fruit & Vegetables plans to open 100 additional stores in the national capital region (NCR) in the next one year.
"We intend to explore new markets and penetrate new consumer base by launching 100 additional 'Safal Pure Veg' stores across the NCR in the next one year," Mother Dairy Fruit & Vegetable Pvt Ltd CEO Sunil Bansal told PTI.
He said they have identified around 80-90 locations in the NCR where the company would be opening these outlets, most of which will be on franchise mode.
Mother Dairy have around 400 Safal outlets in NCR region, most of them are owned by itself, selling fruits, vegetables and dairy products. Now, with a view to penetrate further into the region, it has decided to opt for franchise mode of expansion.
Under this, an entrepreneur having any shop or outlet of prescribed size in designated location can get Mother Dairy franchise with an investment of Rs 6-7 lakh.
"While on one hand, we would be able to offer better returns to the farmers we would also be able to increase our presence and penetration," Bansal said.
Fruit and vegetables contribute around 15 per cent to the overall turnover of Rs 4,000 crore of Mother Dairy.
Asked about revenue projection, he decline to comment saying it is difficult to estimate at this point as the company's turnover is already growing at compound annual growth rate of 25 per cent.
