Mahindra Retail targets over Rs 200 cr turnover

Mahindra Retail, which entered the retail space

through its Mom & Me stores, expects to have 150 stores by the end of the current fiscal and is eyeing over Rs 200 crores turnover this fiscal. While the investments in the retail stores have already crossed the Rs 100 crores mark, by the end of this month, the company would have launched over 100 Mom & Me stores and 25 Beanstalk stores. It is looking at having 150 stores by March 2013.

Mom & Me caters to the baby care segment in the organised retail market. It offers baby apparel & accessories, travel and safety products, baby furniture, toys, etc. Along with expanding its retail footprint and adding new product offerings, the retail chain is also looking to expand in Tier II and Tier III cities via franchise model.

Mahindra Retail, the retail wing of the $14.4 billion (over Rs 780,00 crores) Mahindra Group, also has a tie up with Destination Maternity, a maternity wear brand Destination Maternity Corporation -- the world’s largest maternity apparel retailer with a turnover of $545.5 million (Rs 2,982 crores) in FY11. Despite the government allowing 100 per cent foreign investment in single brand retail, letting global labels set up stores on their own, Destination Maternity had chosen Mahindra Retail as its franchisee partner in India in May this year.