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Krishna Group to expand retail chain

Posted by retailigence on February 13, 2009

New Delhi (PTI): Diversified business player Krishna Group is planning a Rs 150 crore investment for its apparel and accessories retail chain, The Grab Store, to give it a pan-India presence and add 20 more outlets during 2009.

The retail chain, which currently operates six outlets located in Mumbai, Rajkot and Baroda, is also aiming for 50 stores nationwide during the next three years and plans to enhance its private labels, besides having more branded products.

We have currently six outlets, including four in Mumbai and one each at Rajkot and Baroda. We have set a target of 50 stores nationwide during next three years, and as part of this, we are planning to invest Rs 150 crore during 2009 for opening 20 new stores,” The Grab Store Chairman Sanjay Tayal said. He said investment would come from internal accruals and partly by means of debts.

“We are focusing on both metros and non-metros for expansion and our target cities include Vapi, Nagpur, Delhi, Hyderabad, Kolkata, Chennai, Kolhapur and Silvassa. Our stores would be 5,000-30,00 sq ft in size,” Tayal said. Most of the new outlets would be company-owned. Among the existing six outlets, four are company-owned and the rest two franchise operated.

Sources :- The Hindu

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