The Hindu Business Line : Heritage Foods joins food retail bandwagon

`Fresh' moves
The company, which has earmarked Rs 150 crore on the retail initiative, will sell vegetables, fruits and groceries.
In the first phase, it will open 15 stores each in Hyderabad, Bangalore and Chennai by March next.

Hyderabad , Jan. 2

Eyeing a huge opportunity in the Rs 8,66,000-crore food retail market in the country, Heritage Foods, a Rs 292-crore dairy products company, has joined the retail bandwagon by unveiling plans for 100 `Fresh@' stores in all major Indian cities.

The company is promoted by the former Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu's wife, Ms Bhuvaneswari.

The company, which has earmarked Rs 150 crore on the retail initiative, would sell vegetables, fruits and groceries. In the first phase, it would open 15 stores each in Hyderabad, Bangalore and Chennai by March next.

A leading dairy player, Heritage has tied up with farmers in Chittoor (Andhra Pradesh) and Kolar (Karnataka) up to an extent of 400 acres for procurement and processing, Mr Santosh Unni, Head (Operations and Marketing - Retail) of Heritage Foods, said.

Fresh@ also offered grocery products with `Farmers' Pride' brand.

Addressing a press conference here recently, he said the company would open eight outlets in Hyderabad. "We are expecting revenues to the tune of Rs 300 crore by the end of next financial year," he said.

Keeping in mind the growing competition in organised food retailing, the company has started free home delivery for customers who make a billing above Rs 200. "They can call us or place their order through the Internet to get the products delivered at their home," he said.

More Stories on : Diversification | Retailing | Dairy & Dairy Products

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