Valdel Retail on an expansion mode; to open 3 Centra and 12 Dailys in the next year

Bangalore, Aug 11, 2006: Valdel Retail Pvt. Ltd., the retail arm of the multi-business Valdel Corporation, is on an expansion mode in the year ahead where it plans to open 3 Centra and 12 Dailys. While Centra is a chain of Department stores, Dailys is a supermarket chain addressing daily essentials. All the above planned new outlets will be in Bangalore and Mysore and Valdel plans to extend its reach to other towns in Karnataka in a phased manner.

Commenting on the new retail strategy and expansion, M J Shantharaam, Managing Director, Valdel Corporation Pvt. Ltd. said, “We have been in operation for 3 years now, have experience of multiple retail formats and access to thousands of consumers who have experienced our brand. The time hence is ripe to consolidate and build on this foundation and by keeping the geography as Karnataka, we will gain the twin advantage of visibility and reach.”

According to him, “Dailys aggressive expansion would provide a platform for us to tap into the fastest growing retail segment - Food & Groceries, where convenience, accessibility and value are important and branded daily essentials are in great demand. On Centra he added that “Since Centra is identified with ‘Value shopping’, care has been taken to ensure that customers get their choice of branded merchandise and true value for money”.

Valdel Retail, a leading retail player was among the first few entrants to enter organised retailing and currently has eight Dailys and two Centra outlets spread across Karnataka, including the new Centra at Basaveswaranagar (first one outside FamilyMart). Valdel forayed into retail through FamilyMart, among India’s largest destination retail stores and recognised as a value shopping destination. Currently, there are 2 Centra Department stores, the first one at FamilyMart, JP Nagar and the second one which was inaugurated in the first week of August at Basaveswaranagar. The 8 Dailys supermarkets which are in operation are at FamilyMart (JP Nagar), Basaveswaranagar, Nagarabhavi, KSCA Stadium, HRBR Layout, HBR Layout, Saraswathipuram (Mysore) and Kuvempunagar (Mysore).

Valdel Corporation, the parent of Valdel Retail is a fast growing conglomerate that focuses on delivering value to its stakeholders through enterprises based on knowledge, people and service. It has successful businesses in Engineering, Retail and BPO. The corporation has grown consistently through its ability to leverage global partnerships and have professionally run businesses.