Ananda plans strategic expansion in UP, to invest Rs.10Cr

ANI | Updated: Mar 20, 2018 17:32 IST

Kanpur (Uttar Pradesh) [India], Mar. 20 (ANI): Ananda, a dairy and dairy products manufacturer inaugurated two company owned, company operated (COCO) stores, in the region of Kanpur, Uttar Pradesh.

With the vision to deliver quality milk and milk products to a larger customer base, the company is planning to make an investment of over Rs. 10 crore with a target to launch approximately 150 stores in the city by FY 2018-19.

This investment comes as a part of an earlier commitment to the tune of Rs.500 crore in the state made during the UP Investors Summit 2018. Currently, Ananda has a total of six outlets in Kanpur, followed by a launch of two additional Ananda COCO stores today at Ashok Nagar and MP Mill Sarvodaya Nagar.

"The launch of these two stores today, is a step closer to our goal to offer readily available healthy and nutritious products to our consumers. We see a huge potential in the Kanpur market and are certain that the city will play a huge role in our expansion plans for Uttar Pradesh. Our commitment of being available to our customers at the closest proximity, underlines the importance of this city for Ananda," said Ananda Group Chairman Radhey Shyam Dixit.

Earlier, Ananda had announced its expansion plans in Northern India by opening 105 new COCO stores. With this, the company anticipates to launch over 500 COCO stores whilst achieving a projected turnover of Rs. 1,500 crore by the end of FY18. Further, the brand is targeting to report an overall growth of 30 percent with its company outlets.

With the vision to bring in a distinctive wholesome experience to its customers by providing direct access to a wide variety of nutritious, pure milk and milk products; Ananda targets to launch an average of 10 COCO stores on a monthly basis. (ANI)