1-India Family Mart to add more stores by 2022

Fashion retail chain 1-India Family Mart plans to open around 100 new stores by 2022. The chain selling clothing and lifestyle accessories, affordable fresh fashion and general merchandise, now has 100 stores across 81 cities in UP, Bihar, Jharkhand, Chhattisgarh, Orissa, North East, and West Bengal. The company is targeting Tier III, IV markets for its retail expansion and plans to open its new stores in states like Orissa, West Bengal, and North East.

Apart from increasing marketing budget, the company is also spending on manpower training, warehouse upgradation, artificial intelligence, retail analytics, brand positioning and business intelligence. An IPO is likely by 2022. The company has attracted top leadership talent as part of capability building to match its growth plans and is also investing in processes and technology while maintaining high standards of corporate governance. The value retail store chain has more than doubled its marketing budget to cash in on the festive season. Last year, 1-India Family Mart’s total spending was 1.5 per cent of its total marketing budget. However this year it has gone up to 3.5 per cent. The idea is to expand its horizons to more cities with the ultimate vision of addressing the fashion needs of 75 per cent of the country's population. The company sees huge growth potential in Uttar Pradesh.