Nysaa Retail to Invest Rs 200 Cr to Launch 100 More Stores Across India
Delhi-based Nysaa Retail Pvt. Ltd, which operates a chain of ‘Value Retail’ stores under the brand name “1-India Family Mart” across Eastern and Northern India has stepped up its expansion plans. The value retail chain in India plans to invest Rs 200 crore and open around 100 stores in the next two fiscal.
1-India Family Mart currently has 56 stores across Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh and the North East. It looks to expand and accumulate around 12 lakh sq. ft. of retail space by 2020.
“The plan is to expand and accumulate about 12 lakh sq. ft. of retail space by 2020 from the present 4.25 lakh sq. ft. Following the opening of the new stores, we expect to record net revenue of about Rs 750 crore in 2019, which will further increase to Rs 900 - 1,000 crore by 2020,” said Jay Prakash Shukla, a retail veteran and the founder & CEO of 1-India Family Mart.
About 50 per cent of the total investment required will be raked in through internal accruals and the remaining through debt. Nysaa Retail has recorded more than 60% growth over the previous fiscal, with net sales rising to Rs 235 crore as against Rs 147.5 the previous fiscal year. The bootstrapped company, led by entrepreneurs Jay Prakash Shukla and Ravinder Singh, began operations in October 2013 and had raised its first external funding of Rs 42.5 crore from private equity firm Carpediem Advisors in December 2017.
1-India Family Mart also uses big data insights to analyse customers’ buying habits and trends. So far, the company has already implemented this in 35 stores to predict customers’ frequency of visits, buying behaviour, instant preferences & repetitions and also plans to apply in its other stores too.
Also, the company is looking for firms with a “right fit” for strategic acquisitions.
