Expects to cross Rs 1200 crore year-on-year turnover by the end of FY 2020-21
Plans to to open 50 more stores across Telangana, Andhra Pradesh, and Karnataka
Hyderabad, NFAPost: Ratnadeep Retail Pvt. Ltd. South India’s most awarded fastest-growing retail chain brand, launched its 100th store in the country in Hyderabad, Telangana.
The retail conglomerate which embarked on its glorious journey in 1987 has now become the most trust-worthy retail chain in the state.
The company with its strategically located and uniquely designed stores offers a seamless and easy shopping experience. The 100th store is located in the prestigious Jubilee Hills area the 4,500 sq. ft. store was launched in the presence of guests & dignitaries.
Speaking on the occasion, Ratnadeep Retail Pvt Ltd Managing Director Sandeep Agarwal said Ratnadeep is all set to join the big league of retail chain brands in the country and the company is extremely proud of its achievement.
“We plan to increase our national footprint through multiple format stores in the next few years. The last few months have been challenging but this time gave us clear understanding regarding the customer interests and demands. We have introduced special sanitation, hygiene and safety parameters within the organisation. Employee retention and staff safety have been our primary motto and we have taken all steps to ensure the well being of our people and customers,” said Sandeep Agarwal.
Ratnadeep already has a retail footprint spanning over 4,00,000 square feet across the 99 stores operating in Hyderabad and Bangalore.
The chain plans to reach out to a larger base of audience through multiple format stores: Ratnadeep Supermarket, Ratnadeep Express & Ratnadeep Select with a focus on the core values of Quality, Variety and Freshness, across formats.
The company ensures finest shopping experience while catering to over 12 lakhs customers per month. Apart from the food and retail segment it also manages a robust sourcing chain which routes more than 18,000+ SKUs to all their outlets across different states. With the landmark of 100th store Ratnadeep Retail continues the fast track while bringing Quality, Variety and Freshness and unmatched service to the people.
Journey so far
- Ratnadeep Retail has achieved a landmark 100 stores on Dec 25, 2020
- Aim is to come closer to the people and deliver on the promise of quality, freshness and variety across all locations
- With 3 unique store formats, it looks to provide customers with the experience they need
- The vision is to make Ratnadeep Retail a pan India hyper local chain of supermarkets in the coming years
- Target to open 50 new stores across locations in AP (Vijayawada), Telangana & Karnataka (Bengaluru) generating more employment opportunities.
- To curate an unmatched customer experience across every touch point
With a well-structured expansion plan and aggressive strategy, the company achieved Rs 800 crore in FY 2019-20. Despite the pandemic and manpower challenges, Ratnadeep has maintained a steady growth and expects to cross a Rs. 1200 crore year-on-year turnover by the end of FY 2020-21. The company will commence the New Year with aspirations to open 50 stores across South India (Telangana, Andhra Pradesh, and Karnataka) with an average size of 3,000 sqft per location.
Even during lockdown, the company managed to give employment opportunities to large number of people and at the end of FY 2020, Ratnadeep has a head count of 4000 employees. The company adopts the policy of diverse & inclusive workforce, and employs 70% women. They plan to hire more employees in the next year.
Commenting on the occasion, Ratnadeep Retail Pvt. Ltd Director Manish Bhartiya said Ratnadeep Retail is extremely delighted to reach the 100 stores mark this year.
“We have projected to reach a store count of 150 stores by FY 2021 and provide an unmissable shopping experience to our customers. We also plan to expand our reach by opening new stores across new townships and communities and position ourselves as a convenient & quick shopping destination for our discerning customers,” said Manish Bhartiya.
Ratnadeep has introduced their own in-house brand products to tap into its large & loyal consumer base. They plan to focus on 5 major categories under Ratnadeep Private Label- Ratnadeep for Staples, Basmati rice, Herbs, Ginger Garlic Paste, Curd, Eggs, Bread Category, Bake Right for Baking Category, Taste Right for Ready-to-cook/eat, Italian Range, Makhana category, 87 Gourmet for Gourmet/World food category, Nectar for Sweet category.
Groceries and FMCG products
Ratnadeep Retail Pvt. Ltd. was started in the year 1987 with the idea of selling quality Groceries and FMCG products. What started as a modest beginning with a single store has today captured the hearts of the customer and has 100 operational stores and many more in the pipeline.
Ratnadeep has always strived to keep the high standards of expectation of our esteemed customers and ensure that each store maintains Quality, Variety, and Freshness for its customer. Ratnadeep supplies the best quality of products with a wide range for its customers to choose from at the best prices.
All our stores are designed spaciously to enable the customer to move around freely and ensure a comfortable shopping experience. We have always strived to adapt to the latest in technology and ensure that the customer does not spend more time at the checkout counters.