More Megastore to open in Delhi

    More Megastore to open in Delhi

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    (ABRL), which operates a chain of supermarkets – More – and hypermarkets,More Megastore, is set to roll out its first hypermarket in Delhi on May 27.

    Speaking exclusively to IndiaRetailing, , CEO, ABRL, says, "This hypermarket at City Centre mall at Rohini, spread over 50,500 sq.ft area, offers fresh food, groceries, apparel and footwear, general merchandise, electronics and appliances."

    With the opening of this hypermarket in Delhi, the number of More Megastore will reach seven in India. Talking about the investment, Varghese says, "We invest around Rs 16-18 crore (approximately) per hypermarket."

    Varghese reveals, "We are opening our next store in Hyderabad next month. In the current year, ABRL plans to open 100 supermarkets and 8-10 hypermarkets across the country. Here, we are looking at considered, cautious and profitable growth over the next few years."

    "As modern trade spreads its wings wider in urban areas, there is also a growing demand in smaller towns. Retailers have had a first taste of growth in smaller towns, where demand is expected to fuel consumption in the coming years. The country’s retail sector is worth $400 billion and is growing at around seven per cent annually. Modern trade is growing at a much faster rate of 15- 16 per cent annually," observes Varghese.

    ABRL currently operates 540 supermarkets and six hypermarkets in India. The hypermarkets are currently operational in Mysore, Bengaluru, Mumbai, Indore, Baroda and Aurangabad.

    — Diwakar Kumar