India’s food & grocery market doubled from $300 billion in 2013 to $600 billion in 2019. In this period, growth was driven by traditional retailers – popular local corner shops that offer an assortment of products. In the lead up to 2024, researchers from RedSeer Consulting and BigBasket Brand Intelligence expect another ~$200 billion jump – this time driven by new segments. Ratnadeep Supermarket was started in the year 1987 with the idea of selling quality groceries and FMCG products. What began as a modest beginning with a single store has today captured the customer’s hearts and recently launched its 100th store.
The retail conglomerate embarked on its glorious journey in 1987 has become the most trust-worthy retail chain in Andhra Pradesh and Telangana. With its strategically located and uniquely designed stores, the company offers a seamless and easy shopping experience.
The 100th store is located in the prestigious Jubilee Hills area the 4,500 sq. ft. store was launched in the presence of guests dignitaries.
Key Highlight of the Journey so far
ü Ratnadeep Retail has achieved a landmark 100 stores on Dec 25, 2020
ü Aim is to come closer to the people and deliver on the promise of quality, freshness, and variety across all locations
ü With 3 unique store formats, it looks to provide customers with the experience they need
ü The vision is to make Ratnadeep Retail a pan India hyper-local chain of supermarkets in the coming years
ü Target to open 50 new stores across locations in AP(Vijayawada), Telangana & Karnataka (Bengaluru) generating more employment opportunities.
ü To curate an unmatched customer experience across every touchpoint
Ratnadeep already has a retail footprint spanning over 4,00,000 square feet across the 99 stores operating in Hyderabad and Bangalore. The chain plans to reach out to a larger base of the audience through multiple format stores: Ratnadeep Supermarket, Ratnadeep Express & Ratnadeep Select with a focus on the core values of Quality, Variety, and Freshness, across formats.
Success Factors
The company ensures the finest shopping experience while catering to over 12 lakhs customers per month. Apart from the food and retail segment it also manages a robust sourcing chain that routes more than 18,000+ SKUs to all its outlets across different states. With the landmark of the 100th store, Ratnadeep Retail continues the fast track while bringing Quality, Variety, and Freshness, and unmatched service to the people.
With a well-structured expansion plan and aggressive strategy, the company achieved ₹800 crores in FY 2019-20. Despite the pandemic and manpower challenges, Ratnadeep has maintained a steady growth and expects to cross an Rs. 1200 crores year-on-year turnover by the end of FY 2020-21. The company will commence the New Year with aspirations to open 50stores across South India (Telangana, Andhra Pradesh, and Karnataka) with an average size of 3,000 sqft per location.
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Speaking on the occasion Mr. Sandeep Agarwal, Managing Director, Ratnadeep Retail Pvt Ltd said“Ratnadeep is all set to join the big league of retail chain brands in the country and we are extremely proud of our achievement. We plan to increase our national footprint through multiple format stores in the next few years. The last few months have been challenging but this time gave us a clear understanding regarding the customer interests and demands. We have introduced special sanitation, hygiene, and safety parameters within the organization. Employee retention and staff safety have been our primary motto and we have taken all steps to ensure the well being of our people and customers.”
Even during the lockdown, the company managed to give employment opportunities to a large number of people, and at the end of FY 2020, Ratnadeephas a headcount of 4000 employees. The company adopts the policy of a diverse & inclusive workforce and employs 70% women. They plan to hire more employees in the next year.
Commenting on the occasion, Mr. Manish Bhartiya, Director, Ratnadeep Retail Pvt. Ltd., said, “We are extremely delighted to reach the 100 stores mark this year. We have projected to reach a store count of 150storesby FY 2021 and provide an unmissable shopping experience to our customers. We also plan to expand our reach by opening new stores across new townships and communities and position ourselves as a convenient & quick shopping destination for our discerning customers.”
Ratnadeep has introduced its own in-house brand products to tap into its large & loyal consumer base. They plan to focus on 5 major categories under Ratnadeep Private Label- Ratnadeep for Staples, Basmati rice, Herbs, Ginger Garlic Paste, Curd, Eggs, Bread Category, Bake Right for Baking Category, Taste Right for Ready-to-cook/eat, Italian Range, Makhana category, 87 Gourmet for Gourmet/World food category, Nectar for Sweet category.
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