Fabmall, Family Mart plan expansion

The Business Times, November 7, 2003, Bangalore

Raghuvir Badrinath

The Giants hypermarket chain owned by the RPGs which is set for an expansion, is expected to face stiff competition from two Bangalore-based companies – Fabmall and FamilyMart.

Fabmall, which already has a decent presence in the supermarket segment in Bangalore, has outlined a strategy to enter the hypermarket arena by the middle of next year. It is looking at being a Rs.1,000 crore company in the next three years with a retail chain across the nation.

Meanwhile, FamilyMart promoted by the M S Ramiah group under the banner of Valdel, has recently opened a hypermarket, which it calls a SuperCentre, spread across 1 lakh sq.feet.

Fabmall (India) Pvt. Ltd. Managing Director V.S.Sudhakar said “we have a blue print ready for our entry into the hypermarket sector. We should be foraying into this sector by the first quarter of next fiscal. We are looking at an equity partner – either a financial instituion or a strategic investor – for this venture.”