Kishore Biyani’s Future Retail is looking at aggressive expansion of its neighbourhood stores Easy Day and Heritage Fresh to 4,000 stores in three to five years.
According to a PTI report: Future Retail operates 538 Easy Day and Heritage Fresh neighbourhood stores, at present. In an investors update, the company said that it is looking at operating 4,000 such stores in 3-5 years.
The company, however, did not share the proposed investment for the expansion, PTI reported.
The company plans to run these neighbourhood stores on loyalty/membership based model offering discounts. Average size of these stores will be around 2,000-3,000 square feet.
At present, these stores are located in 11 clusters.
The company acquired Heritage Freshs 136 retail stores, located in Hyderabad, Chennai and Bangalore, in November last year.
Future Retail acquired Easy Day after merger with Bharti Retail in May 2015. Future Retails flagship brands include Big Bazaar, Fashion at Big Bazaar, and Food Bazaar.