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India: Godrej to increase retail presence
In a bid to increase its presence in the fresh fruit and vegetables segment in the country, Godrej group venture, Nature's Basket is planning to double its store count in the country over the next two years, and is looking at expansions specifically in Delhi and south India.
The shares of the company spurted to 0.57 per cent from the previous close on the Bombay Stock Exchange (BSE).
Mohit Khattar, the gourmet food retail chain's managing director was quoted saying by the media that Nature's Basket started as a fresh fruit and vegetable chain in 2005, but now also sells food products including breads, pastas, meats and wines from India and abroad.
Khattar further said that Nature's Basket was doing exceptionally well in Mumbai in 2009-10 and that has given them the confidence to expand thier operations further.
The company has eight stores in Mumbai and in first steps towards expanding outside the city, opened two stores in Delhi in March.
The company mulls to open a couple of more stores in Delhi this financial year while it is also keen to enter in a few more cities, especially in the south.
Godrej Nature's Basket revenue rose more than 70% year-on-year in 2009-10 (Apr-Mar), and Khattar said, the company was seeing a strong pickup in consumer spending.
The retail chain currently stocks over 2,000 products in its outlets and it aims to renew 25-30% of its range every six months, he said.
Source: commodityonline.com
In a bid to increase its presence in the fresh fruit and vegetables segment in the country, Godrej group venture, Nature's Basket is planning to double its store count in the country over the next two years, and is looking at expansions specifically in Delhi and south India.
The shares of the company spurted to 0.57 per cent from the previous close on the Bombay Stock Exchange (BSE).
Mohit Khattar, the gourmet food retail chain's managing director was quoted saying by the media that Nature's Basket started as a fresh fruit and vegetable chain in 2005, but now also sells food products including breads, pastas, meats and wines from India and abroad.
Khattar further said that Nature's Basket was doing exceptionally well in Mumbai in 2009-10 and that has given them the confidence to expand thier operations further.
The company has eight stores in Mumbai and in first steps towards expanding outside the city, opened two stores in Delhi in March.
The company mulls to open a couple of more stores in Delhi this financial year while it is also keen to enter in a few more cities, especially in the south.
Godrej Nature's Basket revenue rose more than 70% year-on-year in 2009-10 (Apr-Mar), and Khattar said, the company was seeing a strong pickup in consumer spending.
The retail chain currently stocks over 2,000 products in its outlets and it aims to renew 25-30% of its range every six months, he said.
Source: commodityonline.com
Publication date: 6/7/2010
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