Max Hypermarkets India has signed a licence agreement with SPAR International, world’s largest food store retailer under which Max will open SPAR branded hypermarkets and supermarkets across India. Max Hypermarkets is promoted by the Landmark Group, which is headquartered in Dubai.
The initial plan is to open seven new stores over the next 24 months. The group plans to open the first hypermarket (85,000 sq ft) and the first supermarket (28,000 sq ft) in Bangalore next month. An investment of Rs 200 crore is being made in the first phase for setting up the seven facilities.
Commenting on the agreement, Dr Gordon Campbell, Managing Director, SPAR International, said, “This is an exciting and important development for us. Developing SPAR Hypermarkets in India is a key element in our strategic plan. India is a market with enormous potential and we are pleased to have found an excellent partner in Max Hypermarkets.”
“SPAR is a leading food retail brand operating in 33 countries across different formats -- convenience stores, supermarkets and hypermarkets. The Landmark Group is happy with this association and we do believe that this association will help the Group to expand into food retailing and bring in international standards and operations in par with the rest of the food retailers globally,” said Micky Jagtiani, Chairman, Landmark Group.
Worldwide the SPAR organisation comprises 13,700 stores in 33 countries spanning four continents and meets the needs of millions of consumers every day. SPAR operates under four store formats which enable the SPAR brand to flex across different markets.
From its first store in Bahrain in 1973 measuring 5,000 sq ft, the Landmark Group today has a retail presence of over 10 million sq ft and plans to grow its retail presence to 15 million sq ft in the next three years. The Group currently operates over 550 stores and employs over 17,000 people and has a footprint that spans across the Middle East, India, Spain and China.