Retail in Asia

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Indian gourmet retailer Nature’s Basket sees growth despite economic slowdown

Indian gourmet food retailer Godrej Nature’s Basket has experienced reasonable growth despite the economic slowdown.

"Our growth trajectory was very satisfactory during the current financial year [2009-10], in which we grew by 80 percent, compared to the previous year [2008-09] when we grew by 47 percent. We hope to continue this rate of growth during the forthcoming financial year," says Mohit Khattar, the company’s managing director.

Currently, there are eight Nature’s Basket stores in Mumbai and it is looking to open around 20 stores in the next two years in the major metropolitan cities across India, with an investment of around INR20 crore (INR200 million, USD4.4 million).