Aditya Birla Retail Ltd is all set to ramp up its hypermarket brand by adding 10 stores in the current fiscal. The company is also looking to consolidate its retail business by focusing on revenue and margin growth.
Thomas Varghese, CEO, Aditya Birla Retail, said that the hyperstores can accommodate larger number of SKUs and will be available to consumers at a highly discounted rate, which will help build margins in the long run.
He said that the store will house 25,000 stock keeping units across various categories. The company is also looking at collaborations with vendors to create products for its More outlets.
ABRL plans to ramp up its total mall area to 10 million sq ft over the next five-six years. At the moment, the company has 1.85 million sq feet.
For the current fiscal, the company has earmarked Rs 200 crore as capital expenditure for store expansion as well as investments in information technology.