Value retail chain CityKart plans to invest ₹100 crores in India, creating between 700 to 1000 jobs in the current fiscal year.
The company will establish 25 to 30 new stores by the close of the 2023-24 fiscal year.
In real terms this means each store would employ more than 30 to 35 people.
The company also committed to promoting gender diversity, maintaining a 15 to 20 percent ratio.
CityKart has successfully raised ₹105 crore for its expansion plan.
It’s on track to achieve its vision of having 300 stores by 2026.
The company aspires to secure a significant market share, positioning itself as a vibrant shopping destination for residents and fashion enthusiasts.
Presently, CityKart operates in 95 stores across 73 cities in eight states.
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Ritesh Rathi, Citykart COO, said: “We are thrilled to have experienced such tremendous growth and success in the Tier 2 and Tier 3 market.
“The overwhelming response and acceptance that we have received from our customers has encouraged the entire Citykart team to expand our store presence and product offerings.”
CityKart has a presence in eight states, with the recent inauguration of its 94th store in Kanchrapara, West Bengal, marking its entry into the state.
Notably, the company has plans to open nine more stores.
This includes its landmark 100th store in Bihar, an expansive 17,000 square feet establishment in Bettiah.