It plans to add 50 new stores in Telangana, AP and Karnataka, creating more jobs
Hyderabad: Hyderabad-based Ratnadeep Retail launched its 100th store in the country in Jubilee Hills, Hyderabad, on an area of 4,500 square feet. The company aims to develop a pan-Indian hyper-local supermarket chain in the coming years.
The company plans to add 50 new stores across all Telangana, AP and Karnataka locations, generating more job opportunities. The average store size will be 3,000 square feet.
Ratnadeep already has a retail footprint of over 4 lakh square feet in its 100 stores operating in Hyderabad and Bengaluru. The chain plans to reach a broader market base through multiple-format stores including Ratnadeep Supermarket, Ratnadeep Express, and Ratnadeep Select.
The company that serves 12 hundred thousand customers per month also operates a supply chain that routes more than 18,000 plus SKUs to all of their stores in different states.
The company made revenue of Rs 800 crore in the last fiscal year. Despite the pandemic and manpower challenges, Ratnadeep has maintained steady growth and expects to exceed turnover by Rs 1,200 crore this tax. The company, which employs 4,000 people, now plans to hire more employees over 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 coming years. The last few months have been busy, but this time it has given us a clear understanding of customer interests and demands. “
Commenting on the occasion, Manish Bhartiya, director of Ratnadeep Retail, said, “We also plan to expand our reach by opening new stores in new townships and communities and position ourselves as a convenient and fast destination for our discerning customers.”
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