Subhiksha discount stores enter the Gujarat market | INRnews
Ahmedabad, September 22, 2006 : India’s largest discount major has formally entered the Gujarat retail market with its plans to set up 80 stores in the state. Under the expansion plan the Chennai based company will open 80 stores in Gujarat in six months at a cost of Rs. 40 crore.
Unfolding its plans, Subhiksha’s Managing Director R Subramaniam said that these stores will be set up in two phases by March next. In the first phase sixty stores will be opened in Ahmedabad and Vadodara in next two weeks. He said that some have already been started on trial basis.
The chain which already has presence in Delhi, Tamil Nadu, Karnataka and Andhra Pradesh offers ten per cent discount on every item. Explaining the concept Subramaniam said that stores worked on everyday low price and neighbourhood presence. Thus we offer discount on each and every item and we are within reach of everyone, he said. The chain which operates in supermarkets, fruits and vegetables, pharmacy and telecom retail verticals gives huge savings to common buyer through its discount on all schemes, Subramaniam said. To a question about the company entering into capital market, he said that there were plans but declined to give any further details.
By INRnews Correspondent
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