With an aim to strengthen its dominance in the Indian market, Kishore Biyani-promoted Future Group is planning to increase the number of franchisee-based convenient stores to over 1,000 in the next two years.
"We plan to expand to more than 1,000 convenient stores in these cities in the next two years," company's Associate Vice President, Strategy Dipayan Baishya said.
The expansion is planned as an alternative viable option against the estimated shortage in the availability of land for retail expansion that the companies are likely to face in the next 5-7 years, added Baishya.
Besides, the company is also expanding its presence in the rural areas through the franchisee-based model.
"More than 90 per cent of rural retail market is left to be tapped and franchisee-based model is proving to be the most efficient one in tapping this market," Baishya said.
Currently, the company has 100 franchisee-based convenient stores in Delhi and 200 stores throughout Delhi, Bangalore and Mumbai, while it is running about 15 franchisee outlets around its Karnal wholesale outlet