South Africa's largest grocery retail chain, Shoprite Holding's sole outlet in India located at Mumbai has been taken over by the Future Group. The 55,000 sq ft 'Shoprite Store' sold multibrand products in India. This was till now operated in India by Nirmal Lifestyle through a franchisee agreement with Shoprite Holdings Ltd.
Future Group plans to launch a new brand of stores and the Shoprite outlet will be first in this format. These stores will consist of 85% food and grocery merchandise and would also have a instore bakery. Whereas Future Group has a food supermarket chain called 'Food Bazaar', these outlets are much smaller in size ranging from 10,000 to 15,000 sq ft. Shoprite would be the first large format food outlet of the Future Group. The new store is expected to be launches on the 28th of this month.
M-031810
Thursday, March 18, 2010
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