Valdel forays into retail mart, FamilyMart to open around Diwali

Valdel Group, formerly MS Ramaiah Group of Companies has announced its foray into the organized retails segment with the launch of FamilyMart, a 1 lakh sq. ft. shopping centre. The mall is scheduled for launch during Diwali. The company is expecting about 15-20 percent net margins from this venture.

With an investment outlay of Rs.25 crore, Valdel has also established a partnership with Suiwah Corporation Bhd, Malaysia in 2002. Suiwah is a public-listed company with a turnover in excess of $70 million. Since Suiwah’s main business comprises super markets and department stores in Penang, Valdel would procure all its retail needs from Suiwah. This initial investment outlay of Rs.25 crore also includes sourcing of goods to commence operations later this month.

FamilyMart would be positioned as a supercentre and would cater to all requirements of family. Targeting the middle and the upper middle class, another important USP of this mall would be the ample parking space for about 350 cares and 400 two wheelers. The mall would consist of departmental stores, food court etc. While the supermarket would branded as Dailys’ the department stores would be called ‘Centra’.