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New
Delhi: Future Group''s Rs1,000 crore business unit Food Bazaar has decided
to undertake a product category expansion within its existing formats, which will
see it add new items like regional foods with a view to cash in on local flavours. Food
Bazaar plans to double its outlets from the existing 102 across various formats
by June 2008. The retail chain will add baby care, traditional requirements like
puja items and organic foods to add value to its retail shelves. According
to Food Bazaar CEO Sadashiv Naik, the addition of new categories is one way to
add value in its existing business. Branded
"Thank You, Aunty", Food Bazaar has kicked off its regional food initiative
in Maharashtra. It has roped in local experts to make delicacies at in-store counters. Naik
added that the new categories would include regional food offerings at the stores,
grooming products for men, baby care, traditional items for personal care and
herbal products. He said that the organic foods category was still being conceptualised,
and plans for that are yet to crystallise. The
expansion plans will see Food Bazaar doubling its number of outlets by June 2008,
and expand its presence in a lot of tier - II cities, at an "average investment"
of Rs80 crore in the initial set up of the stores, excluding inventory and land
cost. Food
Bazaar anticipates cities like Mumbai, Delhi, Kolkata, Pune, Hyderabad, Bangalore
and Ahmedabad continuing to contribute 14-15 per cent of the company''s total revenues.
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