Retail giant Future Group plans to expand its convenience chain in India within the next two years.
The Kishore Biyani-led company said it will increase the number of its convenience stores from 300 currently (company-owned and franchisee-based) to more than 1000 by 2015.
With the first-tier cities facing a shortage of retail space, opening further convenience stores, which require only small spaces, is a viable option, said associate VP for strategy Dipayan Baishya.
Future Group plans expanding the convenience chain not only in first-tier cities but also in rural areas, it says.
“More than 90 per cent of rural retail market is left to be tapped and franchisee-based model is proving to be the most efficient one in tapping this market,” Baishya said.
“We will be providing the right brand, technical and training support for the franchisees to ensure uniformity in the look and feel of these stores.”