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CityKart eyes Rs 100 Crore investment, 25-30 new stores by end of FY 23-24

Value retail chain CityKart has announced that it has attained “remarkable growth and success” in the Indian market. The brand is eying an investment of up to Rs 100 crore across the country. It is also set to launch 25-30 new stores by the end of FY 23-24, with the significant investment.

The chain of stores is looking at employing between 700-1000 people over the next few months. Currently, the brand employs between 30-35 people per store. The brand – which believes fostering a dynamic and inclusive work environment and in promoting a diversification ratio of gender equality approximately 15-20% – claims to be a very customer and employee-friendly retail destination.

Having raised Rs 105 crore to date for its expansion plan, which is a target of 300 stores by 2026, CityKart is aiming to capture a significant market share and become a bustling shopping hub for residents and fashion enthusiasts. Currently, it operates 95 stores in 73 cities across 8 states.

Ritesh Rathi, COO, Citykart 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 and we are all set 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.”

Owing to its tremendous experience, CityKart has become a go-to shopping destination for men’s, women’s, and kids’ apparel, home furnishing, and accessories. The brand’s lineup includes Athiya, Nimes, Fumee, and Remise, each catering to specific fashion preferences.

Citykart  is planning to launch 9 more stores very soon including its 100th in Bihar which will be the largest store in Bettiah spanning 17,000 sq ft. Anticipating a significant influx of customers during the festive, wedding, and winter seasons, the company is gearing up for an exciting period of growth and opportunity.

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