Kisanserv says its 250-store expansion will create 6,000 jobs
By Retail4Growth Team | August 23, 2024
The company, whose future plans include scaling to 1,000 stores in key cities like Bangalore, Hyderabad, and Chennai, says its expansion will focus on hiring locally and prioritizing female employment.
Kisanserv, the bootstrapped retail company specializing in fresh fruits and vegetables, has announced that it is ambitiously targeting a revenue milestone of ₹500 crore within the next four years.
The company says that as it expands to 250 stores, it expects to create 2,000 direct jobs and 4,000-5,000 indirect jobs, focusing on hiring from local communities and prioritizing female staff. Following this initial phase of expansion, the company plans to scale up to 1,000 stores, entering new markets such as Bangalore, Hyderabad, and Chennai.
“Our success so far is a testament to our commitment to transparency, sustainability, and customer satisfaction,” said Niranjan Sharma, CEO of Kisanserv. “By eliminating middlemen, we’ve been able to offer fresher produce at significantly lower prices while ensuring that farmers receive more than double their traditional earnings. This approach not only empowers farmers but also delivers exceptional value to our customers.”
Kisanserv’s journey began by catering to quick-commerce companies, which provided a platform to test and refine its supply chain processes. Subsequently it opened its first retail store in January 2023. In just 16 months, the company expanded to 22 stores across Pune and Mumbai. It says it is achieving profitability in each location without investing in marketing or social media promotion and that this organic growth has set the stage for an ambitious expansion to 250 stores, with a revenue target of ₹500 crore over the next three years—a significant leap from the current ₹35 crore revenue reported for the most recent fiscal year.
“Kisanserv currently generates ₹41,000 per square foot per year—significantly higher than the ₹31,000 achieved by other top grocery retailers. With the planned expansion, Kisanserv aims to increase this figure to ₹65,000 per square foot per year,” says the company.
“We’ve nearly perfected our business model, and now we’re ready to scale rapidly,” added Niranjan Sharma.
Looking ahead, Kisanserv is exploring the introduction of self-checkout systems in its stores to enhance the shopping experience.
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