Mahindra Group retail subsidiary Mahindra Retail is planning to invest up to Rs 100 crore as part of its strategy to strengthen presence in the speciality chain 'Mom & Me'.
The company forayed into speciality retail for the 'mother and child' segment, with products catering to pregnant women, new mothers, babies and small children, this year and now plans to open unspecified number of Mom & Me outlets across the country. "We are planning to invest Rs 75-100 crore during the first phase of our retail expansion in the mother and child speciality retail, which will stretch for next few months," Mahindra Retail MD K Venkataraman told reporters here. He said the company is looking at opening Mom & Me outlets in all metros and Tier I cities, besides foraying into Tier II cities, but refused to give exact number of stores planned. "We started with one store each at Ahmedabad, Pune and Ludhiana and have now opened our first flagship outlet in Delhi. We are next venturing into Bangalore and Mumbai, besides looking at all the metros and Tier I cities and also looking at Tier II cities," Venkataraman said.
The company aims to achieve a breakthrough in speciality retail, which caters exclusively to one customer or product segment.
"There is huge potential in speciality retail and for us the target group is pregnant women and young mothers and their kids. We are seeking to evolve as a one stop shop for all the needs of that segment," Venkataraman said.
Mahindra Retail is exploring both malls and the standalone format for the Mom & Me chain.
Asked about private labels (company's in-house brands), Venkataraman said: "Currently one-third of our products are from private labels and we see lot of opportunity to increase the share."
Besides private labels, Mom & Me outlets also sell foreign brands like Marimare, Evenflow, Cam and Tutty Bambine under exclusive distributorship agreements.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment