Metro Group to invest EUR100m in India
Germany-based wholesale giant Metro Group plans to invest over EUR100m ($135.95m) in India, as part of its strategy to spread footprint across the nation.
The cash and carry retailer, which now operates nine retail outlets at six locations in India at Bangalore, Hyderabad, Jalandhar, Kolkata, Ludhiana and Mumbai, is eyeing to have 50 stores soon, reported ET.
The group started operations in the country in 2003 with two distribution centers in Bangalore. Now Metro offers assortment of over 18,000 articles across food and non-food at wholesale prices to a variety of business customers such as hotels, restaurants, caterers, and more.
The company reportedly plans to have stores in all parts of the country. Metro has over 700 stores in 30 countries worldwide, and had sales of EUR31bn ($40.9bn) in 2010.
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