Heritage Foods Ltd, a Hyderabad based firm is all set to expand its retail trade investing Rs. 60 crore and covering three southern cities of Chennai, Bengaluru and Hyderabad in the upcoming three years.
Talking about the expansion plans, Dharmender K. Matai, Chief Operating Officer, Heritage Foods’ Retail and Bakery Division stated that, “We are planning to open 75 stores in all these cities in 36 months. On an average two stores will be opened in a month,” He further added that, ““Chennai would get 35 stores, Bengaluru and Hyderabad 20 stores each. Each store would be spread over an area of 1500 to 2,000 sq.ft. Some of them would be large stores spread over 15,000 sq.ft. After the expansion, our retail floor space would increase to six lakh sq.ft. from the current 3.80 lakh sq.ft.”
Since its inception in Hyderabad in the year 2006 with seven retail stores, Heritage Foods Ltd. has achieved commendable success with 105 stores employing around 2,800 people at present. The company firmly believes in serving the best to the society providing fresh fruits, vegetables and grocery. The employee strength would reach 4,000 after the addition of 75 stores. . The food and grocery retail division was likely to close the current financial year with sales revenue of Rs.550 crore. It hopes to clock Rs.1,000 crore by 2020. According to Mr. Matai, “It is a difficult task, but we are hopeful of achieving it as we are growing by over 25 per cent year-on-year. The market size of food and grocery is Rs.one lakh crore and modern retail accounts for 1.5 to two per cent. We will be growing through organic and inorganic means.”