Subhiksha has announced that it plans to open around 1,000 more outlets by the end of this year. The company will primarily focus on tier II cities.
Speaking at the FICCI Ladies Organisation symposium on retail, S Shashikanth, president (manpower), Subhiksha, said, “We are exploring smaller cities in Madhya Pradesh and the eastern parts of the country. Organised retail is growing at a rate of 8-10 per cent per annum, which so far represents only about four per cent of the total retail market. We are planning to open about 1,000 stores by this December across various cities of the country.”
On the models to be followed for the stores, Shashikanth said, “All the outlets will be company-owned as we do not have any franchisee concept.” The average size of the outlets will be around 1,500 square feet.”
Subhiksha currently operates over 1,500 outlets across the country and employs over 25,000 people.