1-India Family Mart expands retail presence
Value fashion chain 1-India Family Mart, owned by Nysaa Retail Private Limited, as part of its ongoing retail expansion has expanded its presence in Uttar Pradesh with the addition of two new stores.
The new stores were opened in Mahoba and Rath towns. The company plans to open 40 new stores across India by the end of the next financial year.
Commenting on the latest expansion, Ravinder Singh, founding director at 1-India Family Mart in a statement said, "We are delighted to announce the launch of 93rd and 94th store in Mahoba and Rath respectively after noticing an increasing demand for affordable fresh fashion and general merchandise among the aspirational class in the region.”
“We see tremendous growth potential in UP, thanks to the encouraging response garnered by our existing stores. As a value retail chain, we will keep expanding our horizons to more cities with an ultimate vision of addressing the fashion needs of 75 percent of the country's population,” he added.
1-India Family Mart recently raised funds of Rs 20 crore ($2.8 million), led by APAC Financial Service Private Limited which the company plans to use for its pan Indian expansion.
The value fashion retailer currently has 94 operating stores across eastern and northern India.
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