REI Agro opens retail stores in Punjab, Haryana
Chandigarh- A leading rice producer REI Agro
Ltd today announced to enter into retail sector of Punjab,
Haryana and Chandigarh with the opening of 5 retail stores
"6Ten" here.
The company also plans to open 50 more stores in Punjab
and Haryana with an investment of Rs 50 crore within one year.
"Today, we are opening our 5 retail stores in Chandigarh,
Mohali and Panchkula to penetrate in these regions. We will
also open 50 more such stores during next one year in order to
strengthen our position here," REI Agro Ltd, Managing
Director, Sundip Jhunjhunwaala told reporters here today.
6Ten stores, opened on a lease format, will offer grocery
items, FMCG, fruits and vegetables and dairy products to the
customers.
Having so far opened 35 stores mainly in NCR, the company
plans to open these stores in Patiala, Ludhiana, Jalandhar,
Amritsar and Rohtak soon. "With organised retailing growing at
more than 30 per cent, there is a huge untapped market for
these stores in India and we are targeting this space across
the states of Punjab and Haryana," he said.
The company has decided to procure fruits and vegetables
from several markets in Delhi, Punjab, Haryana, Rajasthan and
Chandigarh while staples such as pulses, flour, spices would
be procured from millers. Similarly, FMCG items would also be
sourced from companies for their retail venture, he said.
REI Agro Ltd, which plans to open 1500 such stores by
2011, would also set up flour milling facility, a processing
centre in north in order to feed its retails stores, he said.
REI Agro undertakes processes of procuring paddy to
drying, de-husking, milling and polishing, colour sorting,
grading, inspection, packing, branding, distribution and
retailing.
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