After successfully running large format hypermarket stores, K Raheja Group promoted HyperCity —the hypermarket biggie — is looking at opening smaller stores in about a year’s time. The company is putting together a plan to identify locations where smaller stores can be launched 2013 on.
“We have achieved store level profitability and the next aim is to break even at the company level which will happen by 2015 or earlier,” said Mark Ashman, CEO, HperCity. “We are looking at smaller stores of about 28,000-30,000 square feet. This will help us open more stores in numerous locations. The stores will not be too small as we want the customer to have a similar, large-store experience.”
Hypercity, which is an arm of Shoppers Stop, will look at opening the smaller stores at the key cities where it already has a presence. At present, the company runs 12 HyperCity stores and is looking at opening 10 more by 2015. The hypermarket format has an average space of 1 lakh square feet.