Bharti Retail continues with growth plan
Feb 24 2010 , New Delhi
"By opening two of our medium format hyper stores on a single day in NCR and Jaipur, respectively, we want to send a signal that the company is on track to become a billion dollar entity by 2015," a Bharti Retail official said.
He said the company is keen to tap the growing market for items like food and grocery, electronic goods and apparels in the organised sector by expanding the chain to new cities.
Bharti Retail already operates three other easyday Market stores in Patiala, Ludhiana and Jalandhar.
This two new stores in Ghaziabad in NCR and Jaipur have space areas of 50,000 sq ft and 35,000 sq ft, respectively.
The company also operates around 60 smaller format super-markets under the 'easyday' brand across the country.
Last year, Bharti Retail had recently announced plans to expand its operations by having 200 outlets by end of 2010.
It plans to be a USD one-billion firm by 2015 and also increase its employee headcount substantially.
In 2007, while announcing its foray into the retail sector, Bharti had said it planned to invest up to USD 2.5 billion (over Rs 11,000 crore) by 2015 into the venture.
Besides the 'easyday' outlets, Bharti Enterprises also has a joint venture with US-based retailer Wal-Mart for a wholesale cash-and-carry operation in India.