New Delhi: Mumbai-based retail food and grocery player Wadhawan Food Retail (WFRL) plans to invest Rs1,500 crore over the next four years to set up 1,300 stores across the country,
The retail chain, which runs stores under four branded formats -- ‘Spinach´, ‘Sabka Bazaar´, ‘The Home Store´ and ‘Smart Retail´ -- currently has 200 stores.
“Our expansion plan would cater to all the brands and we are looking at having a total of 1,500 stores by 2012-13,” Wadhawan Food Retail managing director Ashok Bhasin told PTI.
He said the company is looking for a daily average footfall of 15 lakh in its stores once the expansion is over.
“We have currently an average footfall of around one lakh across all our stores. We are looking at increasing our footfall by 15 times over the existing figure when all our additional 1,300 planned stores are in place,” Bhasin added.
WFRL began its food and grocery retail operations in 2005 with the ‘Spinach´ and ‘Smart Retail´ brands, and subsequently acquired the Sabka Bazaar and The Home Store brands.
It also runs a non-store format direct-to-home delivery business ‘Sangam Direct´ which the company acquired from Unilever India.
Asked about the funding of the investments, he said it would be through debt and internal accruals. Bhasin said the company would continue to position its stores as neighbourhood stores.