Press release from Business Wire India
Source: HyperCITY
Monday, October 26, 2009 03:31 PM IST (10:01 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Household & personal care products & services, Retailers
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HyperCITY Re-strategies Expansion Plans
Focuses on its Highly Successful 'Big Box' Format & Consolidates Experimental Format
Mumbai, Maharashtra, India, Monday, October 26, 2009 -- (Business Wire India) -- HyperCITY Retail (India) Ltd, one of India's pioneer big box retail stores, has re-strategised its business plans and will continue its focus on its highly successful hypermarket format - with four HyperCITY stores in the pipeline in the coming year. HyperCITY, has successfully completed 4 years of operations in Mumbai and with its latest foray HyperCITY Hyderabad in July 2009, it has expanded its national footprint to four stores across India.
Speaking on this significant development, Mr. B.S. Nagesh, Vice Chairman, HyperCITY said, "We have experienced tremendous success with the HyperCITY format, and have decided to consolidate our Gourmetcity business. Gourmetcity was a futuristic store concept created as part of our innovation and expansion plans but the return on investment does not make this business feasible. We are confident of the continued support from our partners, employees and stakeholders and belief of what works best in a mutually rewarding environment."
The existing GourmetCity located at In Orbit Mall, Malad, has not been meeting business plans. In view of this, the company has decided to exit from the GourmetCity format and has decided to put its focus on developing its hypermarket presence in India.
HyperCITY is well known to be the pioneers in innovative retail trends and is always trying to live up to its philosophy of 'There's More to Discover'. Backed with the expertise of knowing what works best for the Indian customer, HyperCITY has grown to an iconic status standing for a world-class shopping experience.
CONTACT DETAILS
Archana Iyer, IPAN Hill & Knowlton, +91 9820398489, archana.iyer@ipanhillandknowlton.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, HOUSEHOLD, RETAIL
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