Home grown gourmet retail chain Nuts ‘n’ Spices is planning to expand to Bengaluru and Hyderabad next year. Also, the retailer is adding 8-10 stores in Chennai in the coming months. An outlet needs an investment of close to Rs 60-70 lakh on average and takes 12-18 months to break-even. The company will be funding the expansion through internal accruals in a phased manner. The gourmet retail business has been dull in the last two years due to disruption and economic slowdown. The gourmet market is a niche space and accounts for about only Rs 250 crore. Emergence of the new stores of Nuts ‘n’ Spices is an added business advantage for the signage companies whose activities involve in in-store graphics, branding and such activities.
Nuts ‘n’ Spices to expand to Bengaluru and Hyderabad
