Textile majors Arvind Mills is planning to open 30 large-format and 200 small-format Megamart stores across 100 tier II and III cities in the country.
“We are planning to invest Rs 300 crore for expansions,” Sanjay Lalbhai, managing director, Arvind Mills, said in a statement.
The openings are planned to take off from the South, beginning with a store each at Tamil Nadu’s Nagercoil, Tirunelveli, Vellore and Trichy.
Indiaretailing had earlier reported about the company’s expansion plans that included a store launch in Pune, followed by Hyderabad and Bengaluru.
KR Venkatchalapathy, business head, Megamart, had told Indiaretailing that the company, after these expansions, is expecting a turnover of about Rs 2,000 crore in the next five years.