The Kishore Biyani-led Future Group has planed to expand the network of KB’s Fair Price stores by launching about 1,400 outlets across eight major markets over the next one-and-a-half year.
“We will be adding 1,400-odd KB’s Fair Price Stores across eight major cities in the country over the next 19 months, to have a total of about 1,500 stores,” Damodar Mall, chief executive officer, Future Group, told media.
The company currently runs around 67 stores across Delhi, Mumbai and Bengaluru, retailing about 300 essential commodities at lower prices.
“We usually set up these stores at a cost of around Rs 387 per square foot. The Fair Price stores are spread over an area ranging from 1,000 to 1,600 square feet. We will follow the same strategy for our new openings,” said Mall.