RPG Enterprises today announced it was working towards developing its the retail business so that it would contribute 50 per cent of the group turnover five years from now.
Sanjeev Goenka, group vice-chairman, said RPG was planning to build a chain of 300 retail outlets under banners like Music World, Food World, Health & Glow and Hyper Market. The target was to attain a Rs 200-crore monthly turnover from these retail stores three years from now.
Meanwhile, RPG is all set to launch its chain of Hyper Market stores. To be christened Giant, the first outlet will be opened at Hyderabad at a cost of Rs 20 crore. This will be followed by launches in Bangalore and Kolkata.
Hyper Markets would offer wholesale store prices, with customers having the option of buying products in packs of three or four at discounts over and above the ones offered by the companies.
The outlet will offer products ranging from groceries to white goods. The stores would offer competitively-priced, quality products. "We plan to source reasonably priced items from all over the globe," Goenka said.
The chain of stores are being set up in collaboration with Diary Farm of Hong Kong and the group hopes to report Rs 100 crore turnover in its first year of operations. The group has 92 retail outlets all over the country and this is set to double in the next two years.
Giant will cater to large individual customers, institutional buyers and the large fraternity of small retailers. Giant will be the country's first complete Hyper Market. Located at Musheerbad in Hyderabad, the store will be on a site spread over a 1,20,000 sqft area.
It will be stocking around 20,000 items across a 50,000 sqft single level store. These include groceries, fresh vegetables, diary products, fresh meat, apparel, home appliances, white goods and luggage.
