HyperCity Retail, a part of the K Raheja Corp Group has opened its second store in Hyderabad. It’s a part of its strategy of opening smaller sized store, the new store is spread over 50,000 square foot but offers finest range of products across categories such as apparels, personal care, small appliances et al. The second store is located in Manjeera Trinity Mall, a shopping destination in the busy Kukatpally area near the IT hub of Hyderabad.

During the first quarter HyperCity’s losses had widened to Rs 24.72 crores from Rs 21.35 crores a year ago due to a write-off of Rs 3.3 crore for the closure of a store in Ludhiana. Sales grew to Rs 228.33 crores from Rs 204.75 crores in the same quarter a year ago. Tweaking HyperCity’s format to make it turn profitable, the retailer had then decided to launch a new compact HyperCity format of 30,000 square foot in Bangalore, during the quarter. Further it had planned to resize three stores in Cyberabad, Vashi and Thane.

Apart from tweaking the store size, the company has tried to re-build its image as a value player. Hypercity has now increased contribution of apparels to 15 percent from 10 percent, while eliminating low value SKUs (stock keeping units). Along with change in image and prduct mix, the company is also offering hyper deals through aggressive marketing to attarct footfalls.

source: http://www.fashionunited.in / Fashion United / Home / Tuesday – October 15th, 2013