Metro Cash & Carry, leading wholesaler of Germany, is gearing up to expand its market presence in India. Recently, company has map down a suitable business model for the country and now, it is planning to stretch its leg across India. During the inaugural ceremony of its 23rd store in Lucknow, company spill the beans about its expansion plan and commented that it is eyeing to take its store count to 50 stores by 2020.
Further shedding light on the expansion strategy, Arvind Mediratta, MD, Cash & Carry India stated that the company has conceptulised right model now and it is ready for rapid expansion across the country. It has now become the largest cash & carry store in the country.
However, he also revealed that presently company is not scouting for any new region and it is planning to work closely on the domains that it has already explored. Till now, Metro has floated six stores in Bangalore, three in Hyderabad, four in Punjab and two each in Delhi and Mumbai.
Metro’s strategy is not to get into a pan India presence but to make sure that it is able to expand and intensify its presence in these chosen markets. Company wants to invest in the big markets such as Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi NCR and UP.
According to Mediratta, a place like Bangalore, where Metro already operates six stores, still has potential of having two more. India is a land of opportunity and company believes that there is lot of potential because there are at least one crore kirana stores and lakhs of hotels, restaurants and self employed professionals.