Mahindra Retail in Rs 100 cr 7-store plan

Mahindra Retail, a subsidiary of the Mahindra Group, plans to invest Rs 100 crore to open 7 specialty retail outlets catering to pregnant woman and infants.

The funding for the stores, Mother and Me, would come from the parent company.
“We are being cautious and that is why we are not telling you that we will open these many outlets by next fiscal. All I am saying is that these are specialty outlets for upper middle class and the response at the moment has been good, now let’s wait and watch how other outlets would shape up,” K Venkataraman, managing director, told DNA.
He added that “Rs 75-100 crore” is part of Phase 1 of the investments and they will make another round of investments by end of the year.

The company already has a licensing and distribution tie up with 12 international companies such Evenflo, Cam and Tutti Bambine in the fields of baby grooming, pregnant woman apparel, and infant nutrition.

Mahindra Retail is not looking to bring in an international partner and will try to build on its private labels. The company has one outlet each in Ahmedabad, Pune, Ludhiana and Delhi, and is looking to open outlets in Bangalore and Mumbai.