Follow Us:
Thursday, July 19, 2018

Metro records sales of 235 million Euros from India in 2011

It has operations in 29 countries with around 700 self service wholesale centres.

Written by Agencies | Chandigarh | Published: October 17, 2012 8:02:09 pm

German cash & carry brand Metro today said it achieved total sales of 235 million Euros from Indian operations in 2011 and plans to open three more wholesale distribution centres in the country by the end of the current year.

“(Our) last year’s (2011) sales from Indian operations was about 235 million Euros,” Metro Cash and Carry Managing Director Rajeev Bakshi told reporters here today,replying to a query on the company’s turnover from Indian operations.

He did not give any projections about sales for current year. Metro Cash & Carry follows calendar year for reporting its financial results.

It has operations in 29 countries with around 700 self service wholesale centres,and clocked sales of 31 billion Euros in 2011 from its worldwide operations.

Metro Cash & Carry,which entered India in year 2003,is a sales division of Metro Group.

Bakshi added that the company would open three more stores more in India by the end of 2012. The new stores would come up at Amritsar,Vijaywada in Andhra Pradesh and Indore.

The company has 12 wholesale distribution stores,including two each at Bangalore,Hyderabad and Mumbai,and one each in New Delhi,Kolkata,Ludhiana,Jalandhar and Jaipur. Today it opened a new centre at Zirakpur in Punjab.

Metro has invested a sum of over Rs 1,000 crore for its Indian operations so far.

On entering into retail after the government’s move to allow FDI in multi-brand retail,Bakshi said the company had no plans in this regard.

“There is no plan (to foray into retail operations)… we are not thinking,” he said,adding that Metro had experience in wholesale operations and it would operate in this format.

“The issue is not multi-brand retail the issue is what consumers want. If consumers need is here you cannot stop large format coming in,” he added.

Asked about achieving break-even point,Bakshi said some of its old stores had achieved break-even point,though he did not share where these stores are located.

Further,he said after opening of new store at Amritsar next month,company will have maximum number of wholesale centres in one state and its investment will be more than Rs 400 crore in Punjab.

The new centre was inaugurated at Zirakpur by Punjab Chief Minister Parkash Singh Badal. Metro already has centres at Ludhiana and Jalandhar.

Bakshi said purchasing power in Punjab encouraged the company to scale up operations in the state.

The new store has been set up at an investment of Rs 120 crore and is spread over 50,000 sq ft. It which will cater to wide customer base that includes kirana stores,hotels,restaurants,small business,offices and companies.

Bakshi also assured the Chief Minister that the company would look into the possibilities to ensure marketing for kinnow in the country.

Metro runs a farmers’ collection centre in Malerkotla in Punjab to procure fresh fruits and vegetables directly from farmers.

The company has generated 1,200 jobs in Punjab with its three centres in Punjab.

For all the latest News Archive News, download Indian Express App