07 May 2023, Mumbai
Citykart, a value retail store chain in India, has reported a revenue of Rs 560 crore in the fiscal year 2023, driven by its customer-centric and affordable pricing strategies. Citykart is aiming for a revenue of nearly Rs 700 crore in FY24.
The retail chain operates 93 stores across tier 2, 3, and 4 cities in India, with Eastern Uttar Pradesh being its primary market. Citykart plans to increase its store count to over 250 in the next three years.
The retailer plans to invest in technology to improve efficiency and integrate apps and tools to manage its stores. The demand for mass products in India has been under pressure due to inflation, affecting apparel and footwear retailers, among others.
