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1-India Family Mart aims 2300 cr revenue in 5 years

By Retail4Growth Team | November 27, 2019

Empowering Tier-3 & tier-4 Indian markets, 1-India Family Mart, owned by Nysaa Retail, has launched its 100th store in Bihta, Bihar.

Empowering Tier-3 & tier-4 Indian markets, 1-India Family Mart, owned by Nysaa Retail, has launched its 100th store in Bihta, Bihar. With its retail stores spread across 90+ cities of Uttar Pradesh, Bihar, Assam, Madhya Pradesh, West Bengal, Orissa etc, the brand is committed to meet the fashion expectations of diverse customer groups with refreshingly different retail experiences

Citing the significance of this milestone for the company, Ravinder Singh, Founding Director 1-India Family Mart said, “Amidst the ongoing economic slowdown in the retail sector, 1-India Family Mart has recorded a revenue of INR 420 crores in the last fiscal and is further aiming to achieve INR 2300 crore revenue in the next five years with an expansion to over 350 stores. Proceeding towards its vision of meeting the fashion aspirations of small towns in India, 1-India Family Mart, records the fastest growth in value retail chain segment, completes 100 stores in a span of six years.”

Singh further added, “We are thrilled to launch our 100th store in Bihta, as it is one of the fast-growing township in Bihar with an increasing demand for affordable fresh fashion and general merchandise. Witnessing such increasing demand, we are planning to increase our retail presence in tier 3 and tier 4 towns majorly in Assam, Bengal and Odisha along with strengthening our presence in the existing states we operate. In fact, we are eyeing to translate this expansion into all-round value creation by pointing towards revenue worth INR 650crore- INR 700crore during this financial year.”

The company reportedly raised its first external funding worth US$ 7 million from Carpediem Advisors in 2018 for investing in expansion, technology, CRM, warehousing and storefront training. The firm has also recently raised its second round of external debt funding worth INR 20 crores.

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