The RPG Group, pioneers in retail consolidation with around Rs 50 crore investment in 62 Foodworld stores, 13 Musicworld stores and 18 Health & Glow stores across the country, is now entering a new chain of hypermarket stores.
The first such hypermarket store, Giant Hypermarket, sprawling over a 1.25 lakh sq ft area and displaying over 20,000 consumer items, will become operational at Hyderabad on June 27.
According to Raghu Pillai, chief executive officer of the retail sector of RPG Enterprises, this is the first hypermarket store and four more -- one each in Mumbai, Delhi, Chennai and Bangalore -- are being planned. The Giant here has involved an investment of over Rs 20 crore."
The lessons learnt from this new venture would be consolidated and a national roll out is planned over a 5-7 year timeframe across the top 20 cities. The store is expected to gross Rs 100 crore by the 4th year," Pillai told mediapersons here today.
Pillai said while Foodworld store was essentially a grocery outlet, the hypermarket stores will have a wide range of product categories, from consumer electronics and durables to garments, apart from fresh food, groceries and home needs.
It would cater to individual customers, institutional buyers and moffusil retailers. All items will be sold at below the MRP (maximum retail price).
The setting up of hypermarket stores will not come in the way of further expansion of Foodworld stores. "We plan to increase Foodworld outlets to 100 by the end of 2002," Pillai said.
Kruben Moodliar, chief executive officer, Giant, said that provision has been made for parking 80 four-wheelers and 200 two-wheelers within the store at a time.
