Hypercity: Cashing in on Consumerism

Tuesday, 18 January 2011
Hypercity: Cashing in on ConsumerismThe year 2010 has given a good reason to be optimistic about the future to K Raheja backed hypermarket chain Hypercity. It clocked in an annual turnover of Rs 300 crores by the end of March 2010 and with more than 20 per cent growth it opened four stores. As Ashutosh Chakradeo, Head-Buying and Merchandising, Hypercity Retail says, “Indian consumers are quiet adaptable and the fact that there are huge footfalls being driven to malls in implies that the consumers are exploring and are adapting to changes. Further consumers have realized that modern retailing in big box formats is providing them a wide range of products/services which are solutions driven and are able to meet their needs in a much more efficient manner.” He feels, considering the good economic growth in the country and the way consumerism is growing, the outlook for retail is bullish “there seems to be good potential for retail market to get reorganized and meet the increased demand of the consumers,” he says.

Hypercity: Cashing in on ConsumerismIt may be noted that Hypercity which has an exclusive supply agreement with UK’s top supermarket chain Waitrose was the first to open a 100,000 sq. ft. store, India’s largest hypermarket. In fact, their Malad store has been named one of the “Top 100 Must Visit Stores” in the world by UK’s Retail Week Magazine.

Just out of the Christmas and New Year period, the retail chain is now gearing up to launch it spring/summer 2011 lines across the men, women and kids segments. “Cricket World cup will be the first big launch by early February, when we would launch a collection of tees to cheer India. In addition, we also sell the entire cricketing gear including country specific bats, balls etc.” informs Chakradeo.

Almost 70 per cent of Hypercity’s apparel business is private labels, under brands like City Life, Riverinc, Joojoobs –fun, playwear clothing for children. They also retail bags and footwear for women which are specially designed to match the looks of their garments. Ethnic wear for women is a very strong segment in their stores. They sell a range of kurtas and matching bottoms. In addition, they sell a selection of well known brands like Levi’s Signature, Cherokee, Valencia, Lilliput, Palm Tree, and Crocs.

With eight stores spread over 8 lakh sq. ft. area the company is now looking at major expansion plans. “We are planning to open 35 stores in the next three years. The focus will be on cities having more than 1 million population and depending upon the demography and consumption pattern, growth rate of the town and assessing the change in trend of the city lifestyle, we are identifying properties in these cities,” he says.