26 August 2023, Mumbai
Value retail chain reports double-digit sales growth from 93 stores across 7 states.
Citykart, a chain of value retail stores, announced robust growth in its Q1 sales for the current fiscal period. The company operates 93 stores across 7 states, including Uttar Pradesh, Bihar, Assam, Odisha, Tripura, Madhya Pradesh, and Chattisgarh.
The strategic inclusion of product categories beyond clothing, such as footwear, luggage, cosmetics, and household items, has been instrumental in driving consistent sales growth and attracting a steady influx of new customers on a monthly basis.
Demonstrability
This emphasizes the company's commitment to a customer-centric approach and highlighted the dual focus on delivering value and fashion exclusivity. This approach, he noted, has granted them a competitive edge within the market.
The company plans to expand to 300 stores by 2026 and raise additional funds.
Moving ahead, the company intends to uphold the momentum we've garnered by catering attentively to the evolving preferences and requisites of our valued customers."
In line with its ambitious growth aspirations, Citykart envisions a network of 300 stores throughout India by 2026. The company, characterized by its commitment to value, is actively exploring avenues for expansion, including potential acquisitions.
As part of its growth strategy, Citykart aims to secure additional funds, either through debt or equity, in the latter half of the current fiscal year.
These funds are earmarked to provide further impetus to the company's expansion endeavors, supporting its pursuit of growth and success.
