The German retail giant Metro Cash & Carry has chalked out plans to open around eight new stores each year over the next couple of years, which mark the company’s ambitions to spread its footprint across India.
“We have identified top 40 cities in the country wherein we are actively exploring our options to set up stores,” said Rajeev Bakshi, managing director, Metro Cash & Carry. He added that during the current calendar year the company expects to open around eight new stores.
Bakshi said that each store entails an investment of around Rs 70 crore. The total investment is thus expected to be around Rs 560 crore. The company already owns and operates 10 cash and carry stores across seven cities including Bangalore, Mumbai, Hyderabad, Ludhiana, and Jalandhar. The store at Delhi is the last in this series.
A cash-and-carry store is essentially a wholesale multi-brand store that caters to smaller retailers. India’s investment rules allow 100% FDI in cash-and-carry wholesale stores.
Globally, Metro operates around 700 wholesale cash-and-carry stores spread across 30 countries. The company has no plans to enter multi-brand retailing that caters to the end-user.
{{/usCountry}}Globally, Metro operates around 700 wholesale cash-and-carry stores spread across 30 countries. The company has no plans to enter multi-brand retailing that caters to the end-user.
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