Shoppers’ Stop owned, hyper and supermarket chain, ‘HyperCITY,’ is embarking on expansion spree. Shoppers’ Stop is a Rupees 780 crore listed retail venture of K. Raheja group.
HyperCITY, which has positioned itself on its 3 ‘R’ proposition – ‘Right Concept’, ‘Right Price’ and ‘Right Shopping Experience, is planning to set up as many as 20 HyperCITY stores by 2009 at an investment of about Rs 300 crore. Each of the HyperCity store, excluding the investment in real estate, will cost Rs. 15 crore. HyperCITY hypermarkets and supermarkets will be located in Tier I and II cities.
The Rs. 140 crore HyperCITY, which targets middle class as its customers, had launched its first hypermarket store with 1,20,00 square feet retail space on Malad Link Road in Mumbai in April 2006. HyperCITY is credited with creating a record of sorts in India, when it serviced its one millionth customer within 90 days of the opening of its first store.
HyperCITY, has tied up with many domestic and global brands like Waitrose, UK’s no 1 supermarket, Raleigh, a world renowned bicycle brand and JHP of London for In-store design to provide the Indian customer an opportunity to shop the way the world does.