Dairy products manufacturer Ananda said it plans to invest Rs 10 crore to launch about 150 stores in Kanpur by financial year 2018-19, as part of its Rs 500 crore investment committed in Uttar Pradesh.
According to a PTI report: Ananda unveiled two company owned company operated (COCO) stores, in addition to the six already present in the city.
The company, which is stepping up for expanding its retail presence rapidly to grab a bigger market share, last month announced opening 500 retail COCO outlets by the end of next fiscal in states like Delhi-NCR, Haryana, UP and Punjab.
“We see a huge potential in the Kanpur market and are certain that the city will play a huge role in our expansion plans for Uttar Pradesh,” Radhey Shyam Dixit, Chairman, Ananda Group said.
The company said it is looking to launch an average of 10 COCO stores on a monthly basis.
Headquartered in Noida, Ananda has a current production capacity of over 12 lakh litres of milk a day. It sells over 50 products and has presence in most of the diary products, except ice creams.