Ratnadeep Retail Pvt. Ltd., South India’s most awarded fastest-growing retail chain brand, has launched its 100th store in the country in Hyderabad, Telangana.
The retail conglomerate, which embarked on its glorious journey in 1987, has now become the most trustworthy retail chain in the state. The company with its strategically located and uniquely designed stores offers a seamless and easy shopping experience. The 100th store is located in the prestigious Jubilee Hills area.
Ratnadeep already has a retail footprint spanning over 4, 00,000 square feet across the 99 stores operating in Hyderabad and Bengaluru. The chain plans to reach out to a larger base of audience through multiple format stores, Ratnadeep Supermarket, Ratnadeep Express, and Ratnadeep Select with a focus on the core values of quality, variety, and freshness, across formats.
The company ensures the finest shopping experience while catering to over 12 lakh customers per month. Apart from the food and retail segment it also manages a robust sourcing chain that routes more than 18,000+ SKUs to all its outlets across different states.
With a well-structured expansion plan and aggressive strategy, the company achieved Rs 800 crore in FY 2019-20. Despite the pandemic and manpower challenges, Ratnadeep has maintained a steady growth and expects to cross Rs 1,200 crore year-on-year turnover by the end of FY 2020-21. The company will commence the New Year with aspirations to open 50 stores across South India (Telangana, Andhra Pradesh, and Karnataka) with an average size of 3,000 sq ft per location.
Speaking on the occasion, Sandeep Agarwal, Managing Director, Ratnadeep Retail Pvt Ltd, said, “Ratnadeep is all set to join the big league of retail chain brands in the country and we are extremely proud of our achievement. We plan to increase our national footprint through multiple format stores in the next few years. The last few months have been challenging but this time gave us a clear understanding regarding the customer interests and demands. We have introduced special sanitation, hygiene, and safety parameters within the organization. Employee retention and staff safety have been our primary motto and we have taken all steps to ensure the well-being of our people and customers.”
Commenting on the occasion, Manish Bhartiya, Director, Ratnadeep Retail Pvt. Ltd., added, “We are extremely delighted to reach the 100 stores mark this year. We have projected to reach a store count of 150 stores by FY 2021 and provide an unmissable shopping experience to our customers. We also plan to expand our reach by opening new stores across new townships and communities and position ourselves as a convenient and quick shopping destination for our discerning customers.”
Even during the lockdown, the company managed to give employment opportunities to many people, and at the end of FY 2020, Ratnadeep has a headcount of 4,000 employees. The company adopts the policy of a diverse and inclusive workforce and employs 70 percent of women. They plan to hire more employees in the next year.
Ratnadeep has introduced its own in-house brand products to tap into its large and loyal consumer base. They plan to focus on 5 major categories under Ratnadeep private label - Ratnadeep for staples, basmati rice, herbs, ginger garlic paste, curd, eggs, bread category, bake right for the baking category, taste right for ready-to-cook/ eat, Italian range, makhana category, 87 gourmet for gourmet/ world food category, nectar for sweet category.