Shimla: Competition in the retail sector just got intense in the hill capital as Vishal Retail today launched its mega mart mini hyper market here today.
At a conference call Vineet Bajaj, regional head Vishal Retail said that Shimla has become the 56 city on the map of their retail chain. The 11,000 square feet store is the second on for the chain in the state, after having already established one in Baddi, he said.
The store caters to the family needs of lower to upper middle class segments and has sections like garments, FMCG, groceries, kitchen appliances, kids and sports, said Bajaj.
Besides Shimla another stores was opened in Agra today, he said. On an expansion drive, the group has opened 79 stores around the country which include cities like Delhi, Kolkatta, Mumbai, Hyderabad and Bangalore.
North of Delhi the chain also has stores in Panchkula, Ludhiana, Patiala, Jalandhar, Jammu, Bhatinda and Rudrapur in Uttrakhand, he said.
The chain already has over 18,00,000 square feet of retail space across the country and expects to have more than 80 stores in place before the end of the fiscal year.
Starting out with one store in 1978 from Kolkatta, Ram Chandra Agarwal, group owner, launched the retail chain in 2001 by opening the first mega store in Delhi. Against a turnover of Rs 288 crore in 2005-06, the retail chain recorded a whopping jump to Rs 600 crore in 2006-07.