Fashion retail chain 1-India Family Mart exploring new geographies for expansion

1-India Family Mart, the New Delhi-based fashion retail chain, is planning to expand to newer geographies by opening 40 more stores. The company is aiming to steer a store count of 125 by FY20 and more than 350 stores in the next 5 years.

At present, 1-India Family Mart is looking to expand the business to newer territories where there is growth potential. It is further evaluating newer regional markets within the states.

The fashion retail chain is also set for the third round of fundraising. It is in talks with private equity players for capital infusion.

Ravinder Singh, Founding Director, 1-IndiaFamilyMart, said, “We are now in the process of raising more funds and are already in discussion with multiple PE firms.”

Operated by Nysaa Retail, 1-India Family Mart was started in 2013 with the first store in Uttar Pradesh. The company has 92 stores across 81 cities of eastern and northern India.

The brand further plans to go public by listing it on the exchanges in the next two years.

“We are trying to list 1-India Family Mart via an IPO (initial public offer) in 2021,” Singh stated.