Nysaa Retail, which operates a chain stores under the brand name 1-India Family Mart, plans to open another 100 stores in the next two financial years. The New Delhi-based company backed by PE firm Carpediem Advisors, will invest about Rs 200 crores for the proposed expansion. About 50 per cent of the total investment required will be raked in through internal accruals and the remaining through debt.
The plan is to expand and accumulate about 12 lakh sq ft of retail space by 2020 from the present 4.25 lakh sq ft. Following the opening of the new stores, Nysaa expects to record net revenues of about Rs 750 crores in 2019 and Rs 1000 crores by 2020. At present, the company has 56 mid-sized stores across Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh and the North-East.
The company began operations in October 2013. 1-India Family Mart also uses big data to analyse customers’ buying habits and trends. So far, data from 35 stores are being used to predict customer behavior and now the retail firm intends to use data from its other stores too.