Subhiksha announces Rs 55 cr investment in K'taka
Bangalore, Aug 9 (UNI) Subhiksha, India's largest discount retail chain, today announced a Rs 55 crore rollout plan in Karnataka by way of opening 60 outlets in Bangalore and Mysore, to be operational over the next 12 weeks.
Briefing newspersons here, Subhiksha Managing Director R Subramanian said this would be the company's second market foray outside of home State Tamil Nadu, to be followed by entry into New Delhi. In Karnataka, Subhiksha would operate the telecom business vertical in addition to the existing supermarket, fruits and vegetables and pharmacy verticals.
He said the expansion was part of the already announced 600 store national rollout in five States during the next three years with a planned outlay of Rs 300 crore. He stressed that the business model focussed on ensuring that the customers could procure their daily needs at sharply reduced prices, including branded ones, with no compromise on quality.
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