Hyderabad-based food and grocery retailer Ratnadeep Super Market, has entered the Bengaluru market and opened a 5,000 sq.ft outlet in Indiranagar.
The brand, which has robust expansion plans, is eyeing 5 more stores in Bengaluru – Indiranagar, Koramangala, Whitefield, Mahadevpura, and HSR Layout.
“We have earmarked around Rs 75 crore to almost double our network to more than 80 stores, which will be spread across Bengaluru and Tier II & III cities of Telangana and Andhra Pradesh. At present, Ratnadeep has 54 stores spread across Hyderabad and Secundrabad,” says Sandeep Aggarwal, Managing Director, Ratnadeep Super Market.
The food and grocery retailer is planning to open 100 stores nationwide by the end of 2020 and over the next 3 years, it has plans to open at least 500 stores across the country. Besides, it is also looking to venture into the affordable gourmet format, with a strong ROI-based model.
“We are looking at Rs 100 crore revenue this fiscal and for this we are betting big on our private labels along with fresh fruits and vegetables,” says Manish Bhartiya, Director, Ratnadeep Super Market.
Ratnadeep stores are supported with strong back-end integration facilities. The company-owned supply chain model offers a superlative advantage to its stores in getting the merchandise on time, an important benchmark for the retail industry.
The chain has its own 1.5 lakh sq.ft. of warehousing and stores are equipped with the best systems and processes.