Metro Cash & Carry plans to invest Rs 1690 crore for expansion

Metro Cash & Carry India, the Indian arm of the German multinational wholesale company, which opened its first store in Ahmedabad recently, aims to open another 26 stores across the country by 2020 for an estimated investment of about Rs 1690 crore. A standard store requires investment of Rs 60 crore each.

Opening its second store in Gujarat at Ahmedabad, after Surat, Metro will cover other smaller cities in the State with an objective to reach out to kirana stores. Metro had opened its first store in Gujarat at Surat in 2016. The company has so far invested Rs 2300 crore in India and is one of the largest organised wholesalers.

The company caters to over 1.1 million customers across the country, of which around 50 per cent are kiranas, apart from hotels, restaurants and caterers (HoReCa).

Arvind Mediratta, CEO MD, Metro Cash & Carry India, said, "At present, it comprises only 15 per cent of the wholesale business in India. In Europe, for example, it is 70 per cent of the business."