Deerika Hypermart expands offline presence, plans to open 25 new stores in 2023

By

Maverick Martins

Published
Feb 22, 2023

Deerika Hypermart has expanded its retail presence with the addition of its second store at the Pacific Premium Jasola in New Delhi.

The store will offer a wide variety of categories, including fashion, electronics, luggage, footwear, home fashion, among others.

Deerika has aggressive expansion plans and aims to open 25 more stores by the end of calendar year 2023.

Commenting on the expansion, Akash Anand, managing director of Deerika Retail in a statement said, “We began Deerika’s operations in 2020 with the goal of meeting the diverse demands of Indian customers by providing a promise of convenience, value, and quality, which would ultimately reinforce Deerika's commitment to its clients and the shifting retail market climate in the country.”

“Our success can be gauged by the fact that since our inception we have witnessed 30 percent year-on-year business growth. From just one store in 2020, we currently have 5 stores in PAN India, 12 stores will go live in the next 2 months and will open 25 more stores by 2023, in addition to our ever-increasing online presence,” he added.