Max Hypermarkets to launch 20 LFS

Max Hypermarkets India plans to expand its retail network by adding 20 large-format stores

by March 2014. By March 2012, company is looking at adding four stores to the 10 it currently operates. Max Hypermarkets, a part of Dubai-based retailer Landmark Group, runs Spar Hypermarkets in India via a license agreement with Amsterdam-headquartered food retail chain Spar. The new FDI policy, which would allow multi-brand retailers to directly invest up to 51 per cent in a local ventures, does not make a difference to the company since Landmark Group, owned by non-resident Indian Micky Jagtiani had no restrictions on investing in India’s retail sector and Spar doesn’t invest in any of the countries it operates in.

Spar Hypermarkets offers everything from grocery to electronics and is targeting to double sales to Rs 6 billion in the current financial year ending on March 31, 2012. Landmark Group also operates Lifestyle department stores, Max apparel stores and Home Centre stores that sell home furnishing products in India.