IndiaRetailBiz

Subhiksha, the Chennai-based no frills, discount retail chain, which for over a year has been planning to rollout a cluster of neighbourhood, convenience stores, in Kolkata, appears to be now getting ready to rollout its stores in Kolkata. According to media reports, at least 17 stores of these stores are likely to be launched in the next month, as a part of the plan to set up 100 in the city in the first phase.

Founded 10 years ago, at Thiruvanmiyur in Chennai in March, 1997, by its banker turned retailer promoter, R. Subramanium, Subhiksha, which is part (24%) owned by ICICI Ventures. Subhiksha is expected to come out with public offering (IPO) of its shares around March, 2008.

Subhiksha has already rolled out over 1,200 stores across five states of the country and is occupying over a million sq.ft. of retail space. It is planning to set up 3,000 stores by early 2010.

Subhiksha follows a different model of retailing than most of its competitors. It sets up neighbourhood, convenience format, no frills, non-AC, non-glitzy, retail stores of 1,500 to 2,000 sq.ft. in size. Unlike its competitors, who offer discounts on a particular day of a week or a particular occasion, Subhiksha offers discounts every day on most of its products in what is known as ‘Every Day Low Prices’ strategy.

Subhiksha has appropriately adopted ‘Bachat mera adhikar’ (Saving is my right) as its promotional theme.

Subhiksha is currently engaged in offering a range of products under food (including, fruits & vegetables), FMCG, pharmaceuticals, and mobiles, product categories.