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Bangalore, Aug. 21 HomeCare Retail Marts Pvt Ltd (HomeCare) plans to invest Rs 300 crore over the next three years to set up more Magnet and other branded stores in several cities.

The retailer will set up super centres, hypermarkets, supermarkets and speciality chain stores with a fully integrated supply chain, which will include captive organic food farms.

Magnet is a national retail brand running large format stores covering 60,000 sq ft area. With existing operations in Mumbai and Pune, these stores will expand to Ahmedabad and Bangalore following the hub and spoke model before the year-end, and thereafter across other metro and mini-metro cities rapidly.

In its bid to support its expansion plans, the company has selected Oracle Retail applications to help it roll out a dynamic, standardised and integrated IT infrastructure for attaining greater efficiencies.

“We aim to set up more than 200 new stores of varying sizes across India over the next three years,” said Mr Ashok Maheswari, Managing Director, HomeCare Retail.

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