FMCG major Adani Wilmar rolls out 'Fortune Mart' stores1 min read . Updated: 27 Sep 2021, 07:06 PM IST
- Adani Wilmar has so far opened 12 Fortune Mart stores
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FMCG major Adani Wilmar on Monday said it has opened 12 physical stores under the brand name "Fortune Mart" across six states and plans to start outlets across the country.
"Adani Wilmar is opening physical stores under the name Fortune Mart which will exclusively sell Fortune and other Adani Wilmar brand products," the company said in a release.
The physical stores are being opened on a franchise model.
Adani Wilmar has so far opened 12 Fortune Mart stores in Jaipur, Jodhpur, Lalitpur, Gandhinagar, Surat, Gandhidham, Jabalpur, Vidisha, Gwalior, Kharghar, Akola, and Haldia. These cover the states of Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Maharashtra and West Bengal.
The edible oil major had in August filed the draft red herring prospectus (DRHP) with markets regulator Sebi for an initial public offer to raise up to ₹4,500 crore. The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry.
It further aims to launch Fortune Mart stores in north and eastern parts of India in the coming quarter.
"Fortune has become a household name and the most popular and preferred food brand in the country. The rollout of Fortune Mart stores aims to leverage the brand equity Fortune has established over the last two decades," said Angshu Mallick, MD and CEO, Adani Wilmar.
The Fortune Mart stores will also supplement the company's wide retail reach, he added.
"We aim to have a presence across the metros as well as tier I and II cities in the coming months," Mallick said.
The stores will sell all products of Adani Wilmar.
Besides Fortune, the company sells food products under different brands like King's, Aadhar, Raag, Alife and Wilshort.
Apart from edible oils, its food product basket includes basmati rice, atta, pulses, soya chunks, besan, sattu and sugar.
The Fortune Mart stores will also sell recently launched personal care products, including soap, hand wash, and sanitisers, sold under the brand name Alife.
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