Feb12

Lalmahal to roll out 250 retail stores; to invest Rs 1,000 cr

by admin on February 12th, 2008 at 1:17 pm
Posted In: News & Articles

NEW DELHI: Joining the list of firms jumping into Indian retail bandwagon, country’s leading rice exporter Lalmahal Group today said it will invest about Rs 1,000 crore over the next three years to roll out 250 retail outlets.

“The organised retail sector in India is still in its state of infancy and we at Lalmahal foresee a tremendous growth potential in this industry. Having been in business for over 100 years now, we will leverage our experience and expertise to provide the best of the services and quality products to our customers,” Lalmahal Group Managing Director Prem Garg said.

The company has incorporated a new subsidiary “Lalmahal Retail Ltd (LMRL)” for the purpose and it would roll out its first store, LM 365, in the national capital on February 14.

“In the first phase, LMRL intends to set up 250 stores targeting north India, starting from New Delhi and then gradually moving to other cities. This count will reach to 500 stores by the end of second phase on a pan India basis,” the company said in a statement.

LM 365 outlets would be of 750 sq ft to 4,500 sq ft in size, selling food, grocery and pharmaceutical products, it said, adding “… these stores will also provide value-added services like mobile phone recharge, small cafe and shopping reward points.”

The stores, primarily owned by the company, would also sell low-cost good quality apparels.

“A typical discount store operates with around 1,000 stock keeping units (SKUs), while Lalmahal stores, being convenience stores, will have between 1,500-8,000 SKUs,” the company said.

Specialising in Basmati rice, Lalmahal Group is one of the largest rice exporters of the country with its business activities spread across several continents.

└ Tags: , , ,