K Raheja Corp company HyperCITY Retail (India) which opened its first store in Delhi NCR recently, plans to open express formats by next year.
Speaking exclusively to Indiaretailing, Govind Shrikhande, Managing Director, Shoppers Stop Ltd said, “We had tried an express format last year and we believe it can be a good model. But we have to first fine tune it and we believe by the next year we should be able to come up with this type of format in the right catchments.”
Referring to location strategy for the smaller format stores, Shrikhande said: “When you do an express, it can not be inside a mall; it has to be a standalone store and right now if you look at our stores only two are standalone, all others are within a mall. So yes, we have to fine tune it further and we are working on the learnings we already have and yes, we might come up with this new model by next year.”
HyperCITY, which launched its first store in Malad, Mumbai, now has 17 stores across Hyderabad, Bengaluru, Delhi NCR, Bhopal, Amritsar, Pune, Ahmedabad, Vadodara, Karnataka and Jaipur. The company has recently opened its 17th store in Garden Galleria Mall, Noida and 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..