Godrej Nature’s Basket to enter NCR by Dec
Godrej Nature’s Basket, the food-retailing arm of Godrej group, has announced an expansion drive.business Updated: Mar 16, 2010 21:32 IST
Godrej Nature’s Basket, the food-retailing arm of Godrej group, has announced an expansion drive.
The company, which introduced gourmet stores in Mumbai to sell assorted processed food along with fresh fruits, plans to replicate this in other parts of the country.
“The company has been operating eight stores in Mumbai for around five years and has proved its mettle,” Mohit Khattar, managing director Godrej Nature’s Basket told Hindustan Times. “We are now looking at opening stores in the national capital region (NCR), Bangalore, Pune, Hyderabad and Chennai.”
The company has planned 20 stores, of which six would be opened by December-end in the NCR, he said.
Godrej Nature’s Basket started as a fresh fruit and vegetable chain in 2005. It widened its ambit in 2007 and started selling exotic breads, pastas, meats and wines and other consumables. “We recorded a 48 per cent year-on-year growth in 2008 and 80 per cent in 2009. This convinced us about the format,” Khattar said.
The company is not looking at mall-presence, he said. It will set shop in up-market residential locales, and “expects a single store to break-even over a period of six months,” he added.
Rentals are inching up after softening during the slowdown period, Khattar said.
First Published: Mar 16, 2010 21:30 IST