Mumbai, July 22, 2021: Given the rising consumerism in Metros like Mumbai, DP Retail, a subsidiary of Darwin Platform Group of Companies (DPGC) today formally announced its entry into retail space with the launch of its first megastore at DN Nagar, Andheri West here. At the launch ceremony, famous Bollywood actress Ms Huma Qureshi inaugurated DP Retail’s first store. The company would be opening other self-owned exclusive stores at Bhandup, Goregaon, Jogeshwari, Sion, and Worli soon. The launch signifies the DPGC’s ambitious plan to leverage the potential of Indian Retail Space which is one of the most dynamic and fast-paced sectors with double-digit annual growth and it accounts for over 10 per cent of the country’s gross domestic product (GDP) and around eight per cent of the employment.
With 2,500 square feet, DP Retail’s first self-owned store at Andheri boasts of an optimal mix of national, regional, local and private label quality brands at competitive and concessional rates with loyalty and promotional schemes. DP Retail plans to have a pan-India presence with 50 lakh square foot space in the next few years.
Inaugurating the DP Retail Store, Ms Huma Qureshi said, “It is an honour for me to open the DPGC’s first megastore in Mumbai which India offers huge potential in the retail space. The store will give a new age experience to shoppers. I am sure DP Retail would be leveraging its strong network to source quality products from micro and small industries. The company’s business model is perfectly aligned with ‘Make in India’ and ‘Vocal for Local’ campaigns.”
DP Retail plans to invest Rs 1,000 crore in FY 21 to reach out to other Indian cities. It has also allocated Rs. 100 crore towards market penetration across the omnichannel retail business including an innovative franchise model.
Talking to reporters after the launch ceremony, Raja Roy Choudhury, Group CEO, DPGC said, “India is the world’s fifth-largest global destination in the retail space. With DP Retail, we would be leveraging our countrywide network to cater to the rising consumers’ demand. The first self-owned exclusive megastore of DP Retail, opened today, is spread over 2500 square feet. Other five stores in the city would be spread over 500-600 square feet. Overall, we are aiming at 50 lakh square feet space across the country in the next few years.”
“We have recently launched Mega Employment Program to provide job opportunities to youth and DP Retail would be offering jobs to nearly 1.25 lakh people in the next one or two years. We have an ambitious plan to provide jobs to 40 lakh people and DP Retail would have lion’s share in this,” he added.
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