Piramyd Retail Ltd, a part of the Rs 3,000 crore (Rs 30 billion) Piramal Group, is planning a foray into retailing of its private labels of food and personal care products.
"A two phase approach has been adopted for retailing of our own labels of food and personal healthcare products. In the first stage, we would be focussing on food items like grocery, grains and dry fruits," PRL CEO and managing director Krish Iyer told reporters here.
He said while the company was not in a hurry to get into retailing of its own labels food and personal care products, it was looking at the total private labels, including apparels, to contribute about 20-25 per cent of the total sales by 2008-09.
"It will take another year and a half for us to get into retailing of our private food labels, which would be in the first phase," he said.
In the second phase, he said, Piramyd would look at retailing its own labels of personal care products like tissue and shampoos. Currently, the company has about ten private labels in the apparels segment.
Iyer said having raised Rs 108 crore (Rs 1.08 billion) from its recent IPO, the company was on the track of its Rs 95 crore (Rs 950 million) expansion programme.
"By March 2008, we would have 17 megastores and 69 TruMart stores (food, home and personal care)," he said. The company on Friday launched megastore and a TruMart in Delhi. It will be opening a megastore and two TruMarts in Pune on Saturday.
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