Savemax to invest Rs 2000 crore
FMCG chain says they are all prepared to compete with Walmart.December 15, 2012 | comments ( 0 ) |
Savemax which was established in 2011 is an upcoming multi brand FMCG retail chain providing wide range of food items like fruits, vegetables and groceries. The chain will be aggressively expanding in the terms of number of stores and each store will be based on the wholesale club model. The chain will focus on the Northern region and is planning to invest Rs 2,000 crore.
“The wholesale club model allows the consumer to buy commodities at wholesale prices as the purchase happens to be in bulk.” Said Vaibhav Singhal, Founder, Director, Savemax. The store will be based on the experiential shopping format where consumers will get Live Bakery, Restaurant and other facilities apart from the normal services provided by a FMCG retail chain. The company plans to open 50 stores in the coming years.
- Reliance Retail & Jio to jointly launch new e-commerce platform
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021