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Bangalore, Aug. 7 Value retail chain Megamart from Arvind Brands has selected Oracle Retail merchandising, planning, supply chain and stores application to support its growth plans. The company plans to open over 250 large and small format stores across the country by 2010, at an investment of Rs 400 crore.

The tie-up with Oracle Retail would help Arvind to increase its inventory turns, improve its forecast accuracy, enable shorter replenishment lead times and improve its service levels, said Mr J. Suresh, CEO, Arvind Brands & Retail. He added that the company deployed the application at an investment of Rs 15 crore. The deployment would take place in three phases. The first phase would be implemented by January 2009, and the final phase would be implemented by end-2010.

The company has bought about 80 per cent of the Oracle Retail’s modules, said Mr K.E. Venkatachalapathy, COO – Megamart and Retail.

Arvind would open five large format stores across the country — in addition to the existing one in Chennai — two at Pune, one each in Bangalore, Faridabad and Chennai (its second store in the city) this year, Mr Suresh said. The company plans to have 6.25 lakh sq ft of retail space by the year-end in both formats. He added that Megamart has seen a 55 per cent year-on-year growth and targets revenues of Rs 300 crore for this current year.

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