Business Standard reports that Vishal Megamart retail chain will soon be opening 15 new stores in the western areas of the country by March 2007, investing a total of Rs 100-115 crore. Locations will include, suburbs of Mumbai such as Mulund and Dahisar and other locations such as Pune, Solapur, Nagpur, Kohlapur, Surat and Ahmedabad. The company is also looking for two locations in Mumbai itself.
Each store will be spread over 30,000-40,000 sq ft and will sell approximately 7,000 products, including household goods, garments, food, footware, home decor items, toys and games, sports and fitness related merchandise, cosmetics, gifts and other lifestyle items. At present the company has 47 outlets in 36 cities with a total retail space of 11.27 lakh sq ft. Its turnover for the last financial year was Rs 300 crore and it has set its target as Rs 650 crore for the current financial year.
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