Metro Group subsidiary Metro Cash & Carry has told just-food it will continue to invest in its Indian business through new store openings.
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The company currently has two stores in Bangalore and one in Hyderabad, which was completed in the past month.
Although Metro has not made a profit in India thus far, Metro Group spokesperson Jürgen Homeyer told just-food this was because rolling investments in new stores had to be taken into account.
He said: “We are continuously expanding our business in India. We are going to open more stores, all in the cash and carry format, which has also been a success in China, Japan and Vietnam.
“Metro sees India as an interesting market with great potential.”
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By GlobalDataLocal reports suggested that Metro is targeting 15-18 stores in major cities across the country over the next three years.
The German retail group has operated in the country since 2003, and will soon be joined by Wal-Mart after its collaboration with Sunil Mittal’s Bharti Enterprises earlier this month.
While Metro has restricted itself to wholesale through the cash and carry format, Wal-Mart’s tie up offers scope for front-end retail. However, Metro has ruled out forming this kind of venture in India.
