Sahara India plans foray into retail and consumer goods market
Sahara India Pariwar is planning a foray into the highly competitive retail and consumer goods market yet again following its success in the real estate business.
The Lucknow-based group will start offering a range of consumer products in the country to make a presence in the market and Managing Worker & Chairman Subrata Roy has said that the business will be emerge as the top three business for the company in the coming years.
"This will be a bigger business than our real estate business and it will be among our top three businesses in the years to come," Roy said.
The company will open its new direct-selling venture called, Sahara Q Shop on August 15, which is India's Independence Day, in 60 towns across Uttar Pradesh, Uttarakhand, Bihar, Rajasthan and Jharkhand. The company is aiming to cover 1,000 cities by March 2013.
The consumers will have to become members in order to be able to shop at the Sahara Q Shop. The group will expand its network through its network of one million financial products sellers and its employees. The company will offer its private branded staples and other products. I is aiming to enroll more than one crore members during the first 18 months and is targeting Rs 15,000-20,000 crore in revenues in the period.