Spread over 38,000 sq.ft, the store is strategically located at Garden Galleria Mall, Noida, which is an extension to the Great India Place Mall. The chain plans to open three more stores in Delhi NCR this year, with the next outlet scheduled to open in Janakpuri’s metro mall in New Delhi.
“We have been waiting to open this store for the last one year. This extension of this mall was delayed by a year, which was beyond our control.But with this first store we are keen to expand in North India,” Govind Shrikhande, Managing Director, Shoppers Stop Ltd, told Indiaretailing.
“On an average we have been targeting to open two to three stores, investing about Rs 40 crores. Our second store is coming at Janak Puri in three months’ time followed by the third outlet at Logix’s City Centre Mall in six months’ time. Then there is a line up of additional stores in other parts in the next two to three years,” he added, informing about the chain’s expansion strategy in North India.
HyperCITY, which launched its first store in Malad, Mumbai, now has 16 stores across Hyderabad, Bengaluru, Bhopal, Amritsar, Pune, Ahmedabad, Vadodara, Karnataka and Jaipur. The new store is their 17th.
The store offer a combination of national, international and its own private brands across categories such as grocery, personal care, apparel, footwear, small apppliances, home decor, kitchen accessories and more.
HyperCITY’s PL portfolio comprises Everyday in Food, Ebano and Avorio in Home-ware, Maxit in Sports, Technix in Appliances, Iktara, Masala Chai and RiverInc in Fashion among others.
“Our private brands are mainly in fashion category, food is largely composed of national and international brands. Overall across HyperCITY, private label contribution is less than 20% of revenues; the rest is driven by these other brands,” Shrikhande added.
In 2013-2014, the company’s retail turnover gerw by 6.81% to reach Rs 904 crore in 2014-2015, up from Rs 846 crore in 2013-2014. The same store sales growth has also increased by 7% and sales per square feet grew by more than 17%, Shrikhande informed.
In addition to the expansion plans, the company is making a robust omnichannel play for all its formats. HyperCITY has entered into strategic alliances with Snapdeal, Flipkart, Amazon and Jabong to sell products on these marketplaces. Additionally, it has also tied up with hyperlocal e-grocers like ZopNow, Grofers and PepperTap for grocery deliveries.