Retail giants on a property signing spree

THE FINANCIAL EXPRESS, KOLKATA, 14.06.2007

Retail giants like Reliance Retail, AV Birla Retail and RPG are rapidly signing properties for their convenience store format, which has emerged as the most popular format for retailers given the high returns per square foot of retail space.

This despite the decline in the global percentage share of fruits and vegetables format from a whopping 60% to 52% in the last 10 years. AV Birla Retail in turn, has signed close to 30 properties for its recently launched 'More' stores in the Capital, while the RPG Group has signed around 60 properties in the NCR for its Spencer Fresh and Spencer's Daily at a rate of Rs 90-95 sq ft.