The Hindu Business Line : HyperCity on expansion spree

Jumping on to the retail revolution bandwagon this time is HyperCity, the K. Raheja Group-promoted hypermarket chain that is all set to go on a major expansion spree with an investment of almost Rs 300 crore.

More outlets

"We are planning to open a total of 20 HyperCity outlets by early 2009," said Mr Andrew Levermore, CEO, HyperCity Retail (India) Pvt Ltd. On investments required to set up the 20 outlets, Mr Levermore said that each outlet required around Rs 15 crore, over and above the real estate costs.

At present, the retail chain has one 1.2 lakh sq. ft outlet in Mumbai, and its expansion plans also include opening outlets in cities such as Lucknow and Aurangabad, apart from tier-1 cities such as Delhi.

More formats

HyperCity is also looking at adding more formats as part of its future plans, though a definite decision on the formats has not been reached yet.

HyperCity, with around 38,000 stock keeping units, has also tied up with many domestic and global brands.

It already has an exclusive supply tie-up with Waitrose, the food shop of the UK-based retailer John Lewis Partnership.

Exclusive rights

HyperCity has the exclusive rights to sell Waitrose products in India.

It has also entered into an agreement with Blue Foods for its two in-house coffee shops.

The company's turnover from its only existing outlet in Mumbai was about Rs 140 crore in the previous fiscal.