Ratnadeep Super Market chain eyes Rs 1000 Cr revenue by 2020
Ratnadeep Super Market, a city-based retail chain Monday said it is eyeing around Rs 1,000 crore turnover by 2020 in the food and grocery category from Rs 520 crore in FY18. The company's Managing Director, Sandeep Agarwal, said they are exploring opportunities for continuous expansion of stores in different phases and different formats like food and grocery stores with a food court and partnering with international, national and premium local brands.
"We had crossed a turnover of Rs 520 crore in FY18 with 3,000-plus employees in our network. We are expanding at a fast pace and expect to see a growth of about 30 percent YOY over the next 24-36 months," he said in a press release.
In terms of sales, the company's own brand of grocery, fruits, and vegetables, imported assortment contribute around 22 percent of the overall revenue pie, he added.
"We are working towards the goal of becoming a Rs 1,000 crore plus brand by 2020," Agarwal said. Ratnadeep which as 42 operational stores spreading across 2.50 lakhs sq.ft is also planning to enter other regions, he said adding they will be opening five stores in Bengaluru soon.