Citykart, one of India’s leading value retail chains is planning to expand its retail presence with opening 25 to 30 new stores by end of the financial year 2023-24.
The company plans to raise around Rs 100 crore ($12 million) to fuel its expansion plan and plans to reach a store count of 300 stores by 2026.
Commenting on the expansion, Ritesh Rathi, chief operating officer at Citykart in a statement 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.”
“We remain committed to providing an unmatched shopping experience, and we look forward to continuing to create an atmosphere that brings joy and celebration to our customers in India,” he added.
Citykart is currently active in eight states and recently launched their 94th store in the country and the first store in West Bengal by opening a store at Kanchrapara. It plans to launch 9 more stores including the 100th store in Bihar by year end.
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