Darwin Platform commits Rs 1000 crore for retail foray

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New Delhi, July 2021: With the intention to emerge as a major retail player in India, Darwin Platform Group has committed Rs 1000 crore for the retail foray. The group plans to add at least 50 lakh sq ft of retail space within the next 3 years. While announcing these outlays, the group also announced the opening up of its first retail outlet at DP Nagar, Andheri West with a 2500 sq ft area. This will soon be followed with retail outlets at Bhandup, Goregaon, Jogeswari, Sion, and Worli in Mumbai and gradually move to other states like Ahmedabad, Goa, Uttar Pradesh, and Bihar, etc.

The 2500 square feet DP retails store in Andheri has the optimal mix of local, regional, national, and private label quality brands at competitive and concessional rates with loyalty and promotional schemes. The group plans on having a Pan-India presence of 50 lakh square feet of DP Retail in the next 5 years.

Speaking about the expansion plans, Raja Roy Choudhury, Group CEO, DPGC, said, “India is the world’s fifth-largest global destination in the retail space. With DP Retail, we would be leveraging our countrywide network to cater to the rising consumers’ demand. The first self-owned exclusive megastore of DP Retail, opened today, is spread over 2500 square feet. Other five stores in the city would be spread over 500-600 square feet each. Overall, we are aiming at 50 lakh square foot space across the country in the next 5 years.”

DP retail financial plans include the investment of INR 1000 crore in the FY21 to expand in Tier 1, Tier 2 & Tier 3 cities. It has also allocated Rs. 100 crore towards market penetration across the omnichannel retail business, including an innovative franchise model.

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The company plans on achieving PAN India presence with different categories, including food, health, wellness except for fashion items. The catalog will also have traditional Indian products. A prominent aspect of the expansion is to introduce innovative techniques and functionality in every area, including pricing, marketing, procurement, sourcing, and merchandising.

The procurement policy would empower and encourage the local business people from manufacturers, cultivators to traders, and Skillman in order to increase the sphere of opportunities and influence. The idea is to provide the best price possible to the people at the root of their products and services.

“This policy would act as a catalyst to promote vocal for local and thereby giving a push to Atmanirbhar Bharat Mission. We will be setting up our manufacturing unit with over 1 million/ month production, processing, and packaging capacity that would strengthen DP Retail’s supply chain. DPGC’s history of winning over customers by heavy discounts during the initial stage is likely to work in its favour,” the Group CEO said

About DPGC
Established in 1996, the DPGC’s net worth is USD 6.4 billion and it has 25 associated companies. Over the years, the Group has made rapid progress in several sectors with its other associate companies which include Darwin Platform Capital, Darwin Platform Holding, and Darwin Platform Infrastructure. Apart from these the Group, through its subsidiaries and associate companies, also operates in Banking, Healthcare, Aviation, Realty, Energy, Mass Media, and IT Sectors. The Group has now entered into the Retail and Defense Production Sectors with an innovative business model. Innovations would be inherent in its quality, pricing, accessibility, marketing, sourcing, merchandising, and other areas of operations. The country’s biggest employment scheme aims to build a strong nation with employment generation and wealth creation. To begin with, DPGC would take all its 1.25 lakh business associates across India on its payroll with a monthly salary of Rupees 15000 – 20,000. The Group targets to provide 1.25 lakh employment or income generation opportunities in each state (total 28) and Union Territories such as Delhi and Chandigarh.

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About Neel Achary 8775 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.