Department store operator Trent has revealed an ambitious Rs 40 crore plan to enter the food retail sector, opening one hundred grocery outlets within the next five years.
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The stores will be established through acquisition or the development of green-field sites, said the company, adding that the focus would be on the Western and Northern regions of India.
A press release issued by the company revealed that: “Trent’s entry into food retailing will complement its operations of garment retailing through the Westside chain. The stores will be in self-service supermarket formats, selling food and non-food items, including wet groceries.”
Trent, also currently involved in expansion with the addition of three more department stores in Delhi and Kolkata, is hoping to gain a significant share in the Indian food retailing sector, estimated to be worth Rs 300,000 crore but dominated by smaller independent retailers.
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By GlobalData
