Retail in Asia

In Shops

Promart to ramp up retail operations in India’s Gujarat

In an attempt to tap the value segment in the Indian state of Gujarat, discounted retail chain Promart is set to focus on opening up more stores in tier-two and tier-three towns in Gujarat.  While it already runs around 8 stores, both owned and franchised, Promart is adding 20 more franchisees in Gujarat at an investment of INR10 crore (INR100 million, USD1.9m).

While for the existing eight stores, Promart has already made an investment of INR20 crore, a franchisee would require an initial investment of INR10 lakh with an area of approx 750-1000 square feet.

The company has targeted a turnover of INR15-20 crore for the already existing stores in Gujarat for 2012-13.