Supermarket chain Vishal Retail has embarked on a new strategy to beat the downturn. While it will launch 60 new stores over the next few months, all of them would be franchised.
That apart, itâ€™s using space at its existing retail outlets to launch specialty restaurants and fast food joints, and will also vend liquor at a few stores, apart from launching laundry services.
While the franchise route will help bring down establishment costs by around 50%, claim executives, the new services will help utilise space optimally and offset losses.
The focus is now on small-format stores and the company is re-jigging its store portfolio across the country by relocating under-performing stores, and resizing around 25 stores. In addition, it also plans to increase its network of 176 outlets to 200 by next year which will be on the franchise model.