24SEVEN Archives - Business of Food https://www.businessoffood.in/tag/24seven/ Latest Food News, Food Industry News & Business Update Wed, 31 Jul 2024 09:37:54 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png 24SEVEN Archives - Business of Food https://www.businessoffood.in/tag/24seven/ 32 32 227603187 24Seven stores likely to shut down https://www.businessoffood.in/24seven-stores-likely-to-shut-down/ Tue, 16 Apr 2024 06:15:00 +0000 https://www.businessoffood.in/?p=2863 Godfrey Phillips India, a cigarette manufacturer, has announced its intention to withdraw from its retail venture, 24Seven, according to multiple media reports. The decision follows a reported negative net worth as of March 31, 2023. The company disclosed its plan to fully divest from the retail business after the retail arm generated revenue of Rs […]

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]]> Godfrey Phillips India, a cigarette manufacturer, has announced its intention to withdraw from its retail venture, 24Seven, according to multiple media reports. The decision follows a reported negative net worth as of March 31, 2023.

The company disclosed its plan to fully divest from the retail business after the retail arm generated revenue of Rs 396 crore in FY23, representing around 9.3 percent of its total revenue from operations. While the company hasn’t disclosed its future plans for 24Seven, it’s likely that the stores may be closed down as part of the exit strategy.

24Seven, is a 24-hour convenience store offering groceries, personal care items, food, cigarettes, beverages, and more. It operates over 120 stores in Delhi & NCR.

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]]> 2863 Profile: 24SEVEN, India’s fastest-growing chain of convenience stores https://www.businessoffood.in/brand-profile-24seven-indias-fastest-growing-chain-of-convenience-stores/ Thu, 24 Aug 2023 06:38:52 +0000 https://businessoffood.in/?p=849 Beginning its retail journey in 2005 with its maiden store in Delhi, 24Seven, a convenience chain now has 125 stores under its brand stable with plans to expand to 5,000 stores over the next 5 years, covering all metro cities in India. STORE HIGHLIGHTS Retailer/ Brand Name: 24SevenParent Company: Godfrey Phillips India LtdLaunch Year: 2005, […]

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]]> Beginning its retail journey in 2005 with its maiden store in Delhi, 24Seven, a convenience chain now has 125 stores under its brand stable with plans to expand to 5,000 stores over the next 5 years, covering all metro cities in India.

STORE HIGHLIGHTS

Retailer/ Brand Name: 24Seven
Parent Company: Godfrey Phillips India Ltd
Launch Year: 2005, first store in Delhi
Company Headquarters: New Delhi
Key Executives: Samir Modi, Managing Director, Modi Enterprises
Store Count: ~125
Retail Format: Convenience Store
Store Size: 700 sq.ft. to 1,500 sq. ft.
Total Retail Area: 1 Lakh sq.ft.+

Geographical Area of Store Operations: Delhi, Gurgaon, Hyderabad, Faridabad, Noida, Ghaziabad, Chandigarh, Mohali, Zirakpur, Panchkula

Major Product Categories: Daily Need Groceries; Snacks; Beverages; Wines; Chocolates; Ready-to-Eat Food; Personal Care products; Cigarettes

Store Service Options: In-store shopping; Online Orders; Delivery Store Service Offerings: Domestic and International courier services; Instant photo development; Bill payments; Mobile phone recharges; Movie tickets, and more

Store Ownership Model: Company-operated stores run on lease and rental basis; Franchise ownership; SKU Count in Store: 3,000

PERTINENT NUMBERS

Average Bill/ Ticket Size: Rs. 350

Average Footfall per day in a Store: 1,170

Average Sales/sq.ft.: Rs. 152

Employee Base: ~500

Annual Turnover: Rs. 405 crore for FY21-22

Future Plans: Reach 5,000-store milestone by 2025; be present in all metro cities of India

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