Ratnadeep opens its 100th store in India at Hyderabad
Plans to add 50 new stores across Telangana, AP and Karnataka, creating more jobs
Hyderabad: Hyderabad-based Ratnadeep Retail launched its 100th store in the country in Jubilee Hills, Hyderabad, spread over an area of 4,500 sq ft. The company aims to develop a pan-India hyper local chain of supermarkets in the coming years.
The company plans to add 50 new stores across locations in Telangana, AP and Karnataka by generating more employment opportunities. The average size of the store will be 3,000 sq ft.
Ratnadeep already has a retail footprint spanning over 4 lakh square feet across its 100 stores operating in Hyderabad and Bengaluru. The chain plans to reach out to a larger market base through multiple format stores that include Ratnadeep Supermarket, Ratnadeep Express and Ratnadeep Select.
The company which serves 12 lakhs customers per month also manages a sourcing chain which routes more than 18,000 plus SKUs to all their outlets across different states.
The company achieved Rs 800 crores revenue in the last fiscal. Despite the pandemic and manpower challenges, Ratnadeep has maintained a steady growth and expects to cross Rs 1,200 crores turnover this fiscal. The company, which employs 4,000 people now plans to hire more employees in the next year.
Speaking on the occasion Sandeep Agarwal, MD, Ratnadeep Retail said, “We plan to increase our national footprint through multiple format stores in the next few years. The last few months have been challenging but this time gave us clear understanding regarding the customer interests and demands.”
Commenting on the occasion, Manish Bhartiya, director, Ratnadeep Retail, said, “We also plan to expand our reach by opening new stores across new townships and communities and position ourselves as a convenient and quick shopping destination for our discerning customers.”
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