The Good Food Store, a subsidiary of Suresh Kumar and Co (Impex) Pvt Ltd, is keen to expand into 10 – 15 more locations in Bengaluru this year, before moving to Chennai and Hyderabad, having grown at 50 per cent and expecting a 100 per cent growth rate with the launch of a new outlet in Bengaluru last week. All new outlets will be located on high streets, with average store size ranging from 300 to 2500 sq.ft. All products will be supplied from the company’s distribution centre located in Old Madras Road, Bengaluru.
Meanwhile, the retailer celebrated a Bavarian Food Festival with the launch of its new outlet at Vylikaval, in Bengaluru last week. The three-week festival was inaugurated by Helmut Brunner, Bavarian Minister of Agriculture who is on a state visit to India with a delegation of over 20 food producers, where patrons will be able to choose from over 300 Bavarian food products on display.
“This festival is not only the celebration of the food and culture of this vibrant German state but also affirms our longstanding relationship with them,” Suresh Asrani, founder, Good Food Store, said.
Before the latest opening, Good Food Store had five outlets, all located in Bengaluru, with a total retail space of 11,000 sq.ft. The chain recorded a total annual sales turnover of Rs 13 crore in 2014, signifying a 189 per cent jump from its 2013 sales turnover. The chain was also recognised with the award for “IMAGES Most Admired Food & Grocery Retailer of the Year: Success with a New Concept” at the Coca Cola Golden Spoon Awards 2015.
Good Food Store stocks over 4,500 specialised products and is located in Whitefield Main Road, Vylikaval Main Road, Electronic City Neeladhari Road, Sahakar Nagar and at Palm Meadows in Whitefield. Despite high import taxes that make foreign food products expensive for the Indian audience, sales volumes have risen due to higher acceptance of the products among the consumers, the company says.
According to Murali Shankar, COO of Good Food Store, the chain conducts regular tasting sessions at its stores to acquaint customers with the new products on the shelves.
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