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9, December 2006 Pragati Maidan, New Delhi.
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Eyeing a huge opportunity in the Rs 8,66,000-crore food retail market in the country, Heritage Foods, a Rs 29.2mn dairy products company, has joined the retail bandwagon by unveiling plans for 100 `Fresh@' stores in all major Indian cities. The company, which has earmarked Rs 15mn on the retail initiative, would sell vegetables, fruits and groceries. In the first phase, it would open 15 stores each in Hyderabad, Bangalore and Chennai by March next. A leading dairy player, Heritage has tied up with farmers in Chittoor (Andhra Pradesh) and Kolar (Karnataka) up to an extent of 400 acres for procurement and processing, Santosh Unni, Head (Operations and Marketing - Retail) of Heritage Foods, said. Fresh@ also offered grocery products with `Farmers' Pride' brand. Addressing a press conference recently, he said the company would open eight outlets in Hyderabad. `We are expecting revenues to the tune of Rs 30mn by the end of next financial year,` he said. Keeping in mind the growing competition in organised food retailing, the company has started free home delivery for customers who make a billing above Rs 200. `They can call us or place their order through the Internet to get the products delivered at their home,` he said
Date: 15-Jan-2007
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