HyperCity to maintain sustained focus on international food products; eyes 10 pc sales next year

HyperCity Retail, part of the K Raheja Corp Group, plans to maintain a sustained focus on international food products as it expects the segment to account for 10 per cent of its portfolio next year, a company official said.
“Our clientele is upwardly mobile customers and we have been focusing on international products to cater to those who are looking for a global experience. We expect that 10 per cent of our sales will come from this segment in the next year or so,” HyperCity Retail CEO Ramesh Menon told PTI.
According to a PTI report: Presently, the segment accounts for about 5-7 per cent of its sales, he said.
HyperCity Retail has a presence in gourmet foods, besides a supply tie-up with UK-based supermarkets chain Waitrose.
The company is also looking to launch its e-commerce business next month.
“We are already testing the beta version. We will launch it soon, and will follow the hyper-local format,” Menon was quoted by PTI as saying.
The company said it would like to woo customers who make their monthly purchases from its store to also make top-ups.
“Presently, our customers might shop here every month, or twice a month typically. They use their local kirana stores for top-ups. We want to make it easier for these customers to purchase from us,” he was further quoted by PTI as saying.
HyperCity, at present operates 19 stores in cities like Mumbai, Hyderabad, Bengaluru, Bhopal, Ludhiana, Amritsar, Jaipur, Pune, Ahmedabad, Delhi and Noida.
In the middle of last year, the company altered its strategy to focus on smaller stores due to space constraints.
Earlier, it had opened stores occupying 70,000-80,000 square feet. The new stores, which the company will open, will be half the size at 40,000-45,000 square feet.
This is also one step ahead in adopting an omni-channel presence with its own website to cater to urban customers, Menon said.
The company will focus on metros and tier I cities and look to open stores where it already has a presence.
Last year, HyperCity Retail reported a turnover of Rs 1,000 crore.
K Raheja Corp Group also operates retail chains under Shoppers Stop and Crosswords in India.