Easyday to open 4000 retail stores in 3-5 yrs
By Nabamita Chatterjee | Vjmedia Works | May 26, 2017
The chain has 538 stores in total so far which also includes 136 stores of Heritage Fresh.
Easyday, the modern trade chain from Future Retail Limited, plans to expand to 4000 retail stores within coming 3-5 years across the country, the company said in a presentation to investors while announcing the audited financial results for the quarter and year ended on March 31, 2017. For the year ended March, the Kishore Biyani-led company posted a profit of Rs 365.5 crore, a 25-fold jump from Rs 14.32 crore a year ago. Total income for 2016-17 more than doubled to Rs 17,075.09 crore.
Branded as India’s ‘Pados ki dukan’, so far Easyday has 538 stores complementing the large format stores network in the Northern Region for Future Retail. The current number of Easyday outlets includes 136 stores of Heritage Fresh located in Hyderabad, Chennai and Bengaluru, which it acquired in November.
This expansion plan is a part of the overall strategy of Future Retail to reach their more discerning customers. With Easyday they are looking at providing robust supply-chain infrastructure and technology deployments across the network. The stores will be closer to the homes having deep cluster presence and a higher amount will add to the company’s scale.