Godrej Agrovet to tie up with European firm
Godrej will increase number of fruit and vegetable retail stores with large format types for its retail operations network.india Updated: Sep 17, 2006 12:46 IST
Godrej Agrovet Ltd is holding talks with a leading European company dealing in processed food and bakery products for a possible tie-up to expand the product offering of its fresh fruits and vegetables retail initiative, "Nature's Basket."
"Our talks are in progress with a European company in breads and cheese category for retailing its products through 'Nature's Basket' and hopefully we should announce the tie-up in the next four to six months," Company Executive Vice President R S Vijan said.
He, however, declined to share the company name with whom the negotiations were on.
Further, Godrej will undertake a major exercise to increase its number of stores and take up large format stores of around 4,000 square feet for its retail operations. It is also on the look-out to acquire properties to spread the store network.
"We plan to ramp up the number of stores to 15 by next fiscal and scale up the number to 100 in next four to five years," he said. The new stores will initially come up in Mumbai followed by Delhi, Bangalore, Chennai, he said.
The company normally takes on leased space for the outlets but can also buy a property if some good proposition comes up, he said.