Ratnadeep Super Market eyes 1000 crore turnover by 2020
Hyderabad, September 10, 2018: Hyderabad-based super market chain Ratnadeep Super Market has chalked out plans for continuous expansion and is eyeing around 1000 crore turnover by 2020 in the food and grocery category. The Super Market chain is set to become the only regional retail chain in India to achieve this milestone in such a short span of time. Ratnadeep is also planning of becoming a national retail chain soon by entering into other regions. What started as a modest beginning with a single store has grown leaps and bounds and has become a household name today with 42 operational stores spreading across 2.50 lakhs sq.ft and many more in the pipeline. Ratnadeep had recently announced the launch of their 42nd store in DD colony, Hyderabad. The company has its entire presence currently in Hyderabad & Secunderabad and wants to touch 50 stores in the city by this financial year. Ratnadeep will also be opening 5 stores in Bengaluru soon.
With about 30 years in the food and grocery retail business, Ratnadeep has grown extensively and has evolved to become a one-stop-shop for all consumer needs. It enjoys a unique advantage in the supermarket store format in terms of navigation of products, identification and user-friendly product planogramming. The range has been carefully selected to meet the everyday needs of the catchment with the intent to provide a superlative shopping experience with high quality products at great value. The multiple choices of brands at its stores, availability of a wide variety of assortment and the fact that it runs regular promos offering prices that are comparable to the best in the market makes it stand apart from other retailers in the city. In spite of a number of national and international companies setting up supermarkets and hypermarkets in the city, Ratnadeep have grown customer base at a steady pace owning to the quality assurance of its products.
Commenting on their expansion plans, Mr. Sandeep Agarwal, Managing Director, Ratnadeep Super Market said, “We are exploring opportunities for continuous expansion of our stores. We are looking to expand our stores in different phases, with different format stores like food and grocery stores with a food court and partnering with international, national, and premium local brands. We had crossed turnover of Rs 520 cr in FY18 with 3000 plus employees in our network. We are expanding at a fast pace and expect to see a growth of about 30 per cent YOY over the next 24- 36 months. In terms of sales, our own brand of grocery, fruits and vegetables, imported assortment contribute about 22 percent plus of our overall revenue pie. We are working towards the goal of becoming a Rs 1,000 crore plus brand by 2020.”
The company has its own ‘Excella’ brand of staples and pulses and also Own Brands in some other FMCG assortment. Ratnadeep have just stepped into its own labels in FMCG, starting with Soan Papdi, Besan laddu and some other products. It is also in the process of introducing its store brands in some more food and FMCG categories, and will be entering the house cleaning segment shortly.
“At Ratnadeep, our endeavour is to enrich the shopping experience of our customers. We have used technology and product in new ways to deliver a truly amazing experience. The company is also continuously looking at making supply chain seamless and planning to make significant investment in this space. Our CRM loyalty program, known as ‘aGAIN’ has a million plus customer base. This resonates the trust and satisfaction the customers have in us. We are now looking to leverage our strengths for expanding our business, partnering with more brands in the food business and ramping up footprint beyond Hyderabad to other regions in the country,” said Mr. Manish Bhartiya, Director Ratnadeep Super Market.