Presently company is not scouting for any new region and it is planning to work closely on the domains which have been already explored by it.
The German wholesale leader, Metro Cash & Carry is ready to grip India after scouting an appropriate business model for the largest democracy in the world. Currently, company is consolidating its market presence which is its first priority. While inaugurating its 23rd store in Lucknow, the wholesaler informed that it would like to hit the target 50 stores by 2020.
Revealing the company’s plan, Arvind Mediratta, MD, Cash & Carry India stated that the company has conceptulised right model now and it is ready for rapid expansion across the country. It has now become the largest cash & carry store in the country.
However, he also revealed that presently company is not scouting for any new region and it is planning to work closely on the domains which have been already explored by it. Till now, Metro has floated six stores in Bangalore, three in Hyderabad, four in Punjab and two each in Delhi and Mumbai.
Metro’s strategy is not to get into a pan India presence but to make sure that it is able to expand and intensify its presence in these chosen markets. Company wants to invest in the big markets such as Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi NCR and UP.
According to Mediratta, a place like Bangalore, where Metro already operates six stores, still has potential of having two more. India is a land of opportunity and company believes that there is lot of potential because there are at least one crore kirana stores and lakhs of hotels, restaurants and self employed professionals.