With this fifth store opening, the company plans to expand its retail footprint across India with 15-20 stores in next few years.
“In the next two to three years, we are planning to increase our footprint by opening 15-20 new stores in states including Delhi, Haryana, Punjab, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Maharashtra and Gujarat with over 7 lakh sq. ft. of total retail space and an investment of over Rs.300crores,” Aman Mittal, COO, Savemax, said in an official release.
The company, which entered retailing in 2011, has been into rice exports for over 60 years. Its stores recently cater to both cash and carry as well as multi-brand retail. It already operates in Haryana, UP and Delhi.
Spread across a massive area of 30,000 sq ft, the new outlet in Punjab is situated at the prime location of MBD Mall, Ferozepur Road. The store will cater to day-to-day needs of all consumers, with an aim to provide wholesale rates on all products and insulate them to the extent possible from inflation and price increase.
Savemax offers a wide range of food items like groceries, processed food, live bakery, readymade garments, personal and home care products, home furnishing, sports items, cookware, electronics, etc.
“Being a centrally located city and an industrial hub of Punjab, Ludhiana will not only give us tremendous opportunity to serve the customers in the neighboring cities but also allow us to serve a significant portion of mom & pop stores, hospitality industry, educational institutions, factories, etc, ” Vaibhav Singhal, Managing Director & CEO, Savemax said during the store opening.