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Godrej Nature's Basket is embarking on an aggressive expansion strategy in tier-1 and tier-2 cities through partnerships with regional retail chains. The Mumbai-based fresh food retail chain, expects to grow 3x by 2020 through this partnership strategy.
On Thursday, Godrej Nature's Basket entered into a partnership with Goa's retail chain, Magsons Group. Nature's Basket said it will work along with Magsons Group on assortment, merchandising and sourcing to bring the assortment in line with its product strategy. The move is expected to boost GNB's presence in the western market.
"This martial expansion strategy will steer the path for better deployment of capital between growth through expansion and collaboration with regional players," said Avani Davda, MD at Godrej Nature's Basket.
"We have outlined a clear roadmap for the business to become India's neighbourhood store, providing the freshest and finest food experience, and achieving our target of 3x growth by FY2020."
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