Ananda, a dairy and dairy products manufacturer installed two company owned, company operated (COCO) retails in Kanpur, Uttar Pradesh.
The company is currently targeting launching about 150 stores in the city by FY 2018-19 with an investment of over Rs 10 crore to deliver quality dairy and dairy products to a larger customer base.
The investment comes as a portion of an earlier pledge of Rs 500 crore to invest in the state made during the UP Investors Summit 2018. At the moment, Ananda boasts a total of six outlets in Kanpur excluding the two COCO stores launched yesterday in Ashok Nagar and MP Mill Sarvodaya Nagar.
“The launch of these two stores today is a step closer to our goal to offer readily available healthy and nutritious products to our consumers. We see a huge potential in the Kanpur market and are certain that the city will play a huge role in our expansion plans for Uttar Pradesh. Our commitment to being available to our customers at the closest proximity underlines the importance of this city for Ananda,” said Ananda Group Chairman Radhey Shyam Dixit.
Previously, Ananda had shared its business plans in Northern India focused on expansion by opening 105 new COCO stores. After which, the company projects to open an additional 500 COCO stores that they believe will allow them to realize a predicted turnover of Rs 1,500 crore by the end of FY18. Moreover, with the opening of so many outlets, the company is targeting an overall growth of 30 percent.
To achieve their targets, Ananda will launch approximately 10 COCO stores every month in a bid to bring a wide variety of nutritious, pure milk and milk products.