The "6Ten" Neighbourhood Convenience Stores are a division of the over Rs 1000 crores REI Agro Ltd, India's leading producer and exporter of basmati rice. The Company has recently decided to hive off this division by forming REI Six Ten Retail Ltd The retail division comprises of over 35 retail outlets in the NCR and other backend facilities including processing and packing units etc besides outlets in Chandigarh, Mohali and Panchkula.
"6Ten" stores are Speciality Food Stores offering products such as grocery items, FMCG Products, fruit & vegetables to consumers. The Company is fast expanding its presence in the northern states including Punjab & Harayana. The Company targets to open over 50 stores across these two states in next one year.
Speaking on the occasion Mr. Sundip Jhunjhunwala, Managing Director, of the Company, said:
"With organized retailing growing at more than 30% annually, there is a huge untapped market for these stores in India. We are targeting this space across the states like Punjab & Harayana to deliver the world class product and shopping experience to consumers.
We are in the process of building a powerful brand and are poised to grow and build a dominant presence in the country's retail arena."
The organized Indian retail market is fast growing and is expected to touch $12 billion by 2015. REI would target the organized retail which has a negligible penetration in the overall retail space market in the country today.
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source: inrnews.com
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