Companies

Retail chain 'More' to invest ₹1,000 cr over five years

PTI Greater Noida (UP) | Updated on March 30, 2019 Published on March 29, 2019

Aditya Birla Retail plans to expand ‘More’ by three times in five years   -  The Hindu

Aditya Birla Group’s retail chain ‘More’ plans to invest around ₹1,000 crore to scale up its operations in the next five years, a top company official said on Friday.

The retail chain, in which US-based e-commerce major Amazon and Samara Capital jointly invested around ₹4,200 crore last year, also expects its turnover to grow three-fold in five years.

According to Aditya Birla Retail CEO Mohit Kampani, More has now become a debt-free company, which is helping the retail chain to expand.

“The mandate from our our board is that in the next five years, the company has to grow three times. That’s our target,” he said.

More has a turnover of around ₹4,500 crore at present, he added.

“You can expect our supermarket count to grow to 1,200 from 600. And, as for hypermarkets, you can expect us to grow five times from today, which would be 120-125 stores,” he added.

 

Published on March 29, 2019
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