Spar Hypermarket is to increase its retail space in India by 40% during the next 12-18 months.
Operated by Dubai-based Landmark Group’s Max Hypermarket through a licensing agreement with Dutch food retailer Spar International, the chain has 18 stores with more than one million square feet in retail space across nine cities in India.
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This move was announced by Spar Hypermarket at the launch of its fourth store in Hyderabad, which is the chain's first standalone outlet in the country.
Spar Hypermarket posted revenues of $15m last year, and this year, it intends to double its growth with the addition of new categories and new products, reported Business-standard.com.
In addition to food, it plans to sell home furnishing, wooden handicrafts, toys, and health and wellness products.
Spar Hypermarket managing director Rajeev Krishnan was quoted by Business-standard.com as saying: “Spar Hypermarkets also aims to enhance its private label business which contributes about 10% of the overall business. The private label business has doubled during this year and we are going to increase more products in this space.”
The company has begun selling products online in Bangalore and this will be gradually extended to other cities.
Operating in India since 2007, Spar Hypermarket has more than 12,000 stores across 40 countries.
