Wadhawans plan Rs 1,500 cr investment in Spinach
Wadhawan Food Retail is planning to invest Rs 1,200- 1,500 crore over the next three years for its Spinach chain of stores.
By PTI |
MUMBAI: The Wadhawan group's retail arm Wadhawan Food Retail is planning to invest Rs 1,200- 1,500 crore over the next three years for its Spinach chain of stores, a top company official said.
"We are likely to invest Rs 1,200-1,500-crore towards expanding our Spinach chain. We want to establish around 1,500 stores in 93 cities during this period," Spinach Chief Executive Officer Dippankar S Halder said.
At present, there are 94 Spinach stores pan-India.
"By March 2008, we plan to add another 250 stores at an investment of around Rs 300-400 crore," Halder said.
The company would have the same three existing formats for the stores -- Spinach Super, Spinach Local and Spinach Express.
Spinach Super would be of 5,000-7,500 sq ft in size while Local would be around 2,500-3,500 sq ft. The size of Spinach Express stores would be of around 12,000-15,000 sq ft.
The company's major thrust will be mainly on Tier I and II cities, he said, adding, "our primary focus would be on the food and groceries business though we are also exploring other possibilities."
The company might enter other retail segments at a later date but right now it would concentrate on food and groceries, Halder said.
The company has recently acquired four companies -- Sangam, Maratha Stores, Sab Ka Bazaar and S-Mart and is scouting for more acquisitions, he said.
"We are likely to invest Rs 1,200-1,500-crore towards expanding our Spinach chain. We want to establish around 1,500 stores in 93 cities during this period," Spinach Chief Executive Officer Dippankar S Halder said.
At present, there are 94 Spinach stores pan-India.
"By March 2008, we plan to add another 250 stores at an investment of around Rs 300-400 crore," Halder said.
The company would have the same three existing formats for the stores -- Spinach Super, Spinach Local and Spinach Express.
Spinach Super would be of 5,000-7,500 sq ft in size while Local would be around 2,500-3,500 sq ft. The size of Spinach Express stores would be of around 12,000-15,000 sq ft.
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The company's major thrust will be mainly on Tier I and II cities, he said, adding, "our primary focus would be on the food and groceries business though we are also exploring other possibilities."
The company might enter other retail segments at a later date but right now it would concentrate on food and groceries, Halder said.
The company has recently acquired four companies -- Sangam, Maratha Stores, Sab Ka Bazaar and S-Mart and is scouting for more acquisitions, he said.
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