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18-02-08
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Hypercity To Develop 68 Hypermarkets
Mumbai, February 18, 2008
Mint K. Raheja Corp.-owned retail chain Hypercity is mulling an investment of around Rs 1,500 crore for the development of 68 hypermarkets and 250 convenience stores named Expresscity across the country in the next five years. “We plan to have around 29 hypermarkets by 2011 and have identified around 68 locations across the country of which some will be stand-alone or an anchor store to other malls,” Hypercity chief executive Andrew Levermore said. The hypermarkets would be set up in tier-II and tier-III locations as well, Levermore added. The group will soon introduce a third retailing format in the next three months with its main focus on serving high-end customers.
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