Metro AG, a diversified retail, wholesale and cash and carry group based in Germany, is poised to expand its India footprint with 50 stores mulled to open soon, reports by ET.
The group will invest about Rs 650 crore (more than US$130 million) for additional stores.
“We have a good presence in India already and we plan to have about 50 stores very soon. We plan to invest over 100 million euros..We have a big investment plan for India,” Metro Group member of board Frans Muller said.
Metro Group says it wants to establish presence in all cities of the country.
Debuting in India in 2003, Metro Group now has nine cash and carry stores spread across six locations. It has two distribution centres in Bangalore and offers an assortment of more than 18,000 articles across food and non-food.
Worldwide, Metro has more than 700 stores in 30 countries and reported sales of 31 billion euro (US$ 40.78 billion) in 2010.
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