Sri Sri Ravishankar Targets Rs 500 Crore Revenue From Retail Stores
Sri Sri Ravishankar Targets Rs 500 Crore Revenue From Retail Stores

Spiritual guru Sri Sri Ravi Shankar's FMCG and wellness brand Sri Sri Tattva aims to achieve a turnover of Rs 500 crore by financial year 2019-20 through its retail stores, which the company plans to start rolling out from January.

Tej Katpitia, CEO of Sri Sri Tattva said “The company has strategically decided to open three formats Mart, Wellness and Home and Health. Mart will be a small outlet comprising our entire FMCG range, while Wellness will have our entire range of prescription medicine and OTC ayurveda products. Home and Health will be a combination of FMCG products, prescription medicine and OTC ayurveda products. It will also have a doctor. The company plans to rollout 1,000 franchised stores by March 2020, of which around 600-700 stores will be opened by the end of March 2019 itself. The cost to open a Mart and a Wellness format store will be around Rs 10 lakh, while it will go up to Rs 20 lakh to open a single Home and Health format store. This will include the cost of infrastructure, store setup and opening stock.”

The company has appointed several master franchisees for the store rollout who will in turn appoint sub-franchisees in their area of operations, informed Katpitia.

The average size of Mart will range between 300 sq ft and 400 sq ft, while the Wellness stores will range between 200 sq ft and 250 sq ft. The size of the larger format Home and Health store will range between 600 sq ft and 800 sq ft.

Out of the 1,000 proposed retail outlets, the company will open around 150 Wellness stores, while the remaining will be divided between the other two formats.

 
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