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SPAR to add 40% more retail space in India
Food store chain, SPAR Hypermarkets, is in the process of adding 40 per cent more retail space in the country in the next 12 months. SPAR Hypermarkets, the result of a licencing agreement between Dubai-based over $6-billion conglomerate Landmark Group’s Max Hypermarket India and Dutch food retailer SPAR International, currently has over one million sft of retail space in India.
Hyderabad: Food store chain, SPAR Hypermarkets, is in the process of adding 40 per cent more retail space in the country in the next 12 months. SPAR Hypermarkets, the result of a licencing agreement between Dubai-based over $6-billion conglomerate Landmark Group’s Max Hypermarket India and Dutch food retailer SPAR International, currently has over one million sft of retail space in India.
“We are looking at innovating in terms of format strategy as well … to expand further into Tier-II markets. We have already put our foot in it. We are now weighing various options, including using technologies like virtual reality, to get there,” Rajeev Krishnan, Managing Director and Chief Executive Officer of Max Hypermarket India, told The Hans India.
Currently, Max Hypermarket operates 18 SPAR stores across nine cities in seven states, including Bengaluru, Mangalore, Coimbatore, Hyderabad, Delhi, Ghaziabad, Gurgaon, Chennai and Pune, with the average store size being 50,000 sft. Announcing the launch of its fourth SPAR store in Hyderabad on Tuesday, Krishnan said: “On the business front, we are expanding our network at a fast pace.
We are firmly invested in Telangana and committed to grow in the state.” Replying to a query on when the SPAR brand would enter the Andhra Pradesh market, he said the company was going to continue to look for growth. “Each of our existing stores has some geographical logic to it. It is the customer who dictates where we go. If the sites are available and the business is going to be profitable, we will go for it. We will continue to expand in that logical front,” he said.
Buoyed by the success of its customer-centric technology solutions like Queue Buster and own ecommerce platform spar.com launched recently, SPAR Hypermarkets is also toying with the idea of coming out with its own version of a virtual store etc within the next 90 days. Stating that the company’s private labels business contribution is hitting the double-digit now, Krishnan said efforts were on to further expand the labels.
SPAR Hypermarkets, with current revenues of Rs 1,000 crore, is also looking at adding new categories like home furnishing, kids, and health and wellness to its product portfolio. “When you start developing specific categories, growth patterns become quite significant,” Krishnan said, while refusing to give any revenue guidance.
By K Rajani Kanth
