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.
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