The Rs 288 crore, Ram Chandra Agrawal owned, Vishal Mega Mart, which currently has 46 stores in 34 cities operating mostly in northern and western parts of India, has decided to expand its network by adding 80 new hypermarkets, 15 of which will come up southern Indian cities including Chennai, Coimbatore, Madurai, Thiruvananthapuram, and Kochi. Presently, Vishal has only one outlet in the southern city of Hyderabad.
The 80 new hypermarket stores targetted to come up in the next financial year will take the tally of Vishal chain to 126. These will entail a total investment of Rs 480 crore at an average of Rs. six crore each.
Vishal would also be launching hypermarkets in Chandigarh, Jaipur, Jalandhar, Kolkata, Ludhiana and Vadodara by mid 2007.
Vishal has fully integrated operations; right from manufacturing to retailing.
As reported earlier, Hypermarket format, which roughly may be considered as a combination of supermarket and departmental store, has captured the imagination of the shoppers across the country. All the existing and potential big names in the Indian retail including Shoppers’ Stop (HyperCity), Pantaloon (Big Bazaar), Tatas (Star Bazaar), Reliance and Bharati-Walmart are banking heavily on this retail format.