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Subhiksha to launch 1,000 stores next year
13 Dec '06
1 min read
Discount retailer Subhiksha Trading Services has declared plans for launching 1,000 stores across ten Indian states by next year with net investment of Rs500 crores.
Company will open 180 outlets in eight cities of Maharashtra with investment of Rs100 crore. Another 80 stores are scheduled for launch in Mumbai, which will be functional in coming four weeks.
R Subramanian, MD, Subhiksha, informed that the phase one expansion plan worth Rs300 crores for achieving 600 outlet mark will be finished in Maharahstra. Soon phase two of expansion will commence in Punjab, Chandigarh, Madhya Pradesh, Haryana, Uttar Pradesh and West Bengal for reaching the target of 1,000 outlets next year.
Company has more than 450 stores in five states occupying one million square feet of retailing space currently.
Refuting the rumours that retailers are trying to purchase Subhiksha, Subramanian informed the media that Subhiksha would not be sold. Company wants double its turnover from Rs330 crores to Rs750 crores in the financial year which ends on March 2007.
Company will open 180 outlets in eight cities of Maharashtra with investment of Rs100 crore. Another 80 stores are scheduled for launch in Mumbai, which will be functional in coming four weeks.
R Subramanian, MD, Subhiksha, informed that the phase one expansion plan worth Rs300 crores for achieving 600 outlet mark will be finished in Maharahstra. Soon phase two of expansion will commence in Punjab, Chandigarh, Madhya Pradesh, Haryana, Uttar Pradesh and West Bengal for reaching the target of 1,000 outlets next year.
Company has more than 450 stores in five states occupying one million square feet of retailing space currently.
Refuting the rumours that retailers are trying to purchase Subhiksha, Subramanian informed the media that Subhiksha would not be sold. Company wants double its turnover from Rs330 crores to Rs750 crores in the financial year which ends on March 2007.
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