Essar Hypermart eyes 1 mn tonnes sales
19 May 2012 6:21 AM GMT
Essar Hypermart, the retail initiative of Essar Steel, on Friday said it is aiming to sell one million tonnes of steel in the current financial year on account of expansion initiatives.
The company that has a strong presence in West and South India is now looking to increase network in Northern and Central India apart from penetrating smaller towns and cities. Â
'We plan to sell one million tonnes of steel in FY 13. This, we will do by expanding our network,' Essar Hypermart chief executive officer Ashok Bajpai said. Â
He was speaking on the launch of the company's new retail outlet spread over an 50,000 square feet area in Ghaziabad.
'Essar Hypermart will be targeting tier II and tier III cities for growth. We will be concentrating on the North and Central India, as we already have good presence in West and South,' Bajpai added.
Essar Hypermart aims to make steel available close to the user point and caters mainly to customers in small and medium (SME) segment.
The company said that it believes that Uttar Pradesh has immense growth potential as the state has a very strong SME sector.
'Being one of the most industrialised states and the second largest economy in the country, the growth of SME sector has been phenomenal in UP,' Bajpai said.
The company aims to create stock point every 200 kilo meters across India but it is not possible to give a definite time line to it, he added.
Essar Hypermart presently has 82 companyowned hypermarts targeting SMEs and 250 express marts, which are franchise outlets catering mainly to individual customers.
The company that has a strong presence in West and South India is now looking to increase network in Northern and Central India apart from penetrating smaller towns and cities. Â
'We plan to sell one million tonnes of steel in FY 13. This, we will do by expanding our network,' Essar Hypermart chief executive officer Ashok Bajpai said. Â
He was speaking on the launch of the company's new retail outlet spread over an 50,000 square feet area in Ghaziabad.
'Essar Hypermart will be targeting tier II and tier III cities for growth. We will be concentrating on the North and Central India, as we already have good presence in West and South,' Bajpai added.
Essar Hypermart aims to make steel available close to the user point and caters mainly to customers in small and medium (SME) segment.
The company said that it believes that Uttar Pradesh has immense growth potential as the state has a very strong SME sector.
'Being one of the most industrialised states and the second largest economy in the country, the growth of SME sector has been phenomenal in UP,' Bajpai said.
The company aims to create stock point every 200 kilo meters across India but it is not possible to give a definite time line to it, he added.
Essar Hypermart presently has 82 companyowned hypermarts targeting SMEs and 250 express marts, which are franchise outlets catering mainly to individual customers.
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