The launch marks another significant milestone in More Retail’s continued expansion and commitment to delivering an elevated, community-focused shopping experience. The Kazipara store will offer customers a wide range of essential products—from farm-fresh fruits and vegetables to premium staples such as rice, dals, sugar, and oils—all of which undergo 45 rigorous quality checks to ensure consistent quality and safety.

In addition to everyday essentials, the store will feature attractive launch deals, assured savings, and an exclusive loyalty program, aimed at enhancing value for every shopper.

With this opening, More Retail further strengthens its mission to serve neighbourhoods across India with trusted quality, affordable prices, and superior service.

The post More Retail expands footprint with new supermarket launch in Kazipara, Kolkata appeared first on Business of Food.

Supermarket chain More Retail has raised approximately ₹400 crore over the past year through a combination of existing investors and leading Indian family offices. The fresh capital is set to bolster the company’s expansion and digital initiatives as it prepares for a much-anticipated Rs. 2,000 crore IPO, slated for calendar year 2026.

The latest fundraise will support the company’s ongoing efforts to expand its store footprint, enhance operational scale, and deepen digital integration, particularly in Tier-2 and Tier-3 towns, where organized retail remains underpenetrated.

“We will go public—not just to raise money, but to validate our model and reward early investors,” said Vinod Nambiar, Managing Director and CEO, More Retail. The proposed IPO will consist primarily of a fresh issue of shares, with no significant offer-for-sale (OFS) component, ensuring that both Samara Capital (51%) and Amazon (48%) retain their stakes post-listing.

Proceeds from the IPO will also be used to reduce the company’s debt, currently standing at Rs. 500 crore, which includes loans and non-convertible debentures (NCDs). More Retail is targeting an EBITDA profit of Rs. 60 crore in FY26, a marked improvement from the Rs. 65 crore EBITDA loss reported in FY24. The company also anticipates turning PAT-positive within two years.

As part of its aggressive growth strategy, More Retail plans to scale up from 775 stores to over 1,100 by FY26, with a long-term goal of reaching 3,000 stores by 2030. The retailer is also expanding its network of “dark stores”—facilities dedicated exclusively to fulfilling online orders—from 40 to 100 locations over the same period.

“Our model is not built around top-up convenience. Customers shop with us about eight times a month, purchasing full grocery baskets with an average ticket size of ₹850,” Nambiar said, noting that this is nearly double the basket value of most quick commerce platforms.

The company continues to consolidate its geographical presence, focusing on South India, Punjab, Haryana, NCR, and West Bengal, while strategically exiting from Mumbai and Delhi to streamline operations. In FY26, More Retail is set to enter Jharkhand and Odisha, further deepening its presence in India’s fast-growing underserved markets.

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This pivot follows a period of reluctance among legacy players, now grappling with shrinking market share in urban centres. According to NielsenIQ’s January–March 2025 report, ecommerce volumes soared by 40%, while traditional trade dipped 2.2% and modern trade declined 7.7%.

“There is a shift towards ecommerce in metros, with high shopping engagement impacting share of modern trade and kiranas,” the report noted.

Reliance Retail is among the frontrunners of this transformation. The company’s Chief Financial Officer, Dinesh Taluja, confirmed that dark stores are being deployed in “dark pockets” where traditional outlets cannot meet the 30-minute delivery benchmark. “We want to deliver online orders in less than 30 minutes,” he said, noting that volume thresholds and gaps in store coverage are key factors driving the rollout.

More Retail, jointly owned by Amazon and Samara Capital, has already launched 45 dark stores, including several in Delhi, and plans to add 100 more. The company has exited its physical store operations in Delhi and is now eyeing Mumbai for expansion.

“In markets where we already have stores—like Kolkata, Hyderabad, Bengaluru and Cochin—we will convert hybrid outlets into dark stores as online demand matures,” said Vinod Nambiar, Managing Director, More Retail. He added that the retailer is also operating standalone dark stores in cities with no physical footprint. More Retail is currently Amazon Fresh’s largest preferred seller in India, strengthening its role as a key backend partner.

Spencer’s Retail is taking a more cautious approach. The company has launched a pilot dark store in Kolkata to test feasibility in areas with limited store-based coverage. CEO Anuj Singh said the initiative supports Spencer’s growing quick commerce business, which currently processes 1.7 lakh orders per month, with plans to scale to three lakh by expanding into cities like Lucknow and Varanasi.

The rapid adoption of dark stores comes amid rising online purchase frequency, growing basket sizes, and dense urban living—factors that are reshaping the grocery delivery landscape. As more Indian households become accustomed to the convenience of on-demand service, dark stores are emerging as a critical component of the urban retail infrastructure.

The post Traditional retailers embrace dark stores to compete in Q-commerce race appeared first on Business of Food.

Managing Director Vinod Nambiar said that the company currently operates 775 stores across the country and plans to add more than 500 new outlets across 160 cities within the next 18 months. The expansion will further strengthen More Retail’s hybrid model, which integrates physical stores with online grocery delivery services.

The Mumbai-headquartered company operates both supermarkets, which focus on daily essentials and groceries, and hypermarkets, which also stock electronics, apparel, and other non-food items. A key element of its growth strategy is leveraging its hybrid stores—which double as fulfillment centers for Amazon Fresh—a model that Nambiar says delivers better margins than standalone brick-and-mortar formats.

More Retail, once part of the Aditya Birla Group, was acquired in 2019 by a consortium led by Samara Capital and Amazon. The company also offers home delivery through its own app and is now experimenting with slotted deliveries, giving customers the flexibility to choose specific delivery time windows—a contrast to the ultra-fast delivery promises of quick commerce rivals.

The move to go public comes amid a booming grocery and quick commerce landscape in India. Competitors like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit have gained significant traction, with the quick commerce segment alone seeing a 280% surge in sales over the past two years, collectively surpassing $1 billion in revenue in FY24.

While Zepto is also planning an IPO later this year, Zomato and Swiggy are already listed, setting the stage for heightened competition in the fast-evolving grocery retail space.

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The awards received numerous nominations, with brands competing across engaging rounds to be crowned the winner. Brands who won at the night included Reliance Retail’s Freshpik and Fresh Signature, Nature’s Basket, Wellness Forever, Lulu Hypermarket, among others. The participants were judged by an illustrious jury panel which included Ankur Shiv Bhandari, Managing Director (The Asbiverse Group), Pakhi Saxena, Business Director- Retail CPG (Wazir Advisors), Yogesh Samat, Executive Director (Grauer & Weil – India), Nandini Kelkar, Director Customer Research (Frost & Sullivan (MEASA)), Ashish Dhir, Executive Vice President – Consumer and Retail (1Lattice), Dr Prabodh S Halde, Chairman (Chamber for advancement of small and medium businesses), Harshita Gandhi, Founder & Principal Advisor (Fulcrum CPG Labs), Sonu Shah, Director, Customer Success Retail Vertical India (NielsenIQ), Sreyoshi Maitra, Consumer Insights Lead (Kantar), Saloni Nangia, President (Technopak), Viren Razdan, MD (Brand-nomics), Smita Bhatia, Business Consultant (Third Eyesight), Shardah Uniyal, Marketing Consultant (Lifestyle/Retail/Fashion), Sumit K Lal, Managing Director (Retail One Solutions and Services), Vasanth Kumar, Strategic coach (Mentor), Anuj Puri, Chairman & Country Head (Anarock), Amit Khanna, Partner & Leader, Front Office Transformation (PwC India), Ravi Wazir (STARTUP Mentor/ Growth Advisor /Leadership Coach/ Author), Prateek Mishra, Senior Director – Retail & Leisure Advisory (JLL) & Abhinav Joshi, Head of Research – India, Middle East and Africa (CBRE South Asia)

Sharing this thoughts on concluding a the immersive Day 1 of the India Food Forum, Nikhil Behl, CEO – Food Business, IMAGES Group, shared “What better way to end an ecstatic day than to honour the champions of our industry who have displayed utmost grit, passion and commitment towards challenging the norms and re-shaping the sector with their steadfast approach. Looking forward to witnessing the same vivacity on Day two.”

Winners List:

IMAGES MOST ADMIRED LAUNCH OF THE YEAR

Freshpik, 1 MG Mall, Bengaluru — For Flagship Store Launch

GoFresh, Chennai — For New Store Launch

Nasta Bazar, Shela, Ahmedabad — For Brand Debut

IMAGES MOST ADMIRED SPECIALITY RETAILER OF THE YEAR

Freshpik

IMAGES MOST ADMIRED RETAILER OF THE YEAR: MARKET EXPANSION

Reliance Fresh Signature

IMAGES MOST ADMIRED RETAILER OF THE YEAR: SINGLE STORE WITH HIGHEST YoY GROWTH

Lulu Hypermarket

IMAGES MOST ADMIRED RETAILER OF THE YEAR: INNOVATION IN OPERATIONAL AREAS

Nature’s Basket: Innovation in Employee Practices & Customer Experience

IMAGES MOST ADMIRED RETAILER OF THE YEAR: MARKETING & PROMOTIONS

Freshpik Outlet Launch with Srinidhi Shetty — For Celebrity Endorsement Campaign

LuLu Hypermarket: Multi Channel Marketing Strategies — For Mass Media Campaign

Nature’s Basket Artisan Pantry Launch — For Launch Campaign

Wellness Forever: Wellness Mahotsav 2024  — For Festival Sales Campaign

IMAGES Most Admired Category Leader of the Year

Bhavin Gada, Reliance Retail — for Confectionery

Noman Aziz Khan, LuLu Hypermarket — for Meat Fish & Livestock

Sushil K Singh, Reliance Retail — for Fresh Foods (Fruits & Vegetable )

Mandar Shinde, Reliance Retail — for Beverages

Mukesh Somra, Reliance Retail — for Processed Food & Savories

IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: SALES GROWTH

Conscious Food and Nature’s Basket

IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: MARKET EXPANSION

Nabati & Patel Retail

C10 IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: LAUNCH

Tata Soulful and Smart Point

IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: BRAND BUILDING

Godrej Genteel and More Retail

IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: PRODUCT INNOVATION

HyFun and Jio Mart

IMAGES MOST ADMIRED BRAND – RETAILER PARTNERSHIP OF THE YEAR: MERCHANDISE DIFFERENTIATION

Dabur Honey and Smart Bazaar

IMAGES EXCELLENCE AWARDS

Reliance Retail’s Green Initiative: Enhancing Farmer Income and Ensuring Food Safety 

Lulu Hypermarket’s CSR Initiative: Empowering Young Minds to Shape the Nation’s Future

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Nemisha Ghia has an extensive career of over 22 years in the retail and food industries. Her journey includes significant roles with well-known brands like Reliance Retail, Mondelēz International, Amazon, Swiggy, and Welspun Group. At Mondelēz International, she spent more than nine years building a strong foundation in the FMCG sector, ultimately serving as Branch Manager for the East Zone.

Nemisha’s passion for developing people and building brands is evident throughout her career. Prior to her new role, she was the Chief Operating Officer at More Retail Private Limited, where she established the company as a customer-centric omniretailer.  She was also a key member of the Leadership Team at Swiggy and served as CEO for the Domestic Textiles Business at Welspun Group.

She holds a B.Pharmacy degree from S.N.D.T University and is an alumnus of NMIMS. Beyond her professional achievements, Nemisha is dedicated to environmental conservation and actively volunteers with various local and national foundations.

The post Nemisha Ghia, Ex-COO of More Retail, joins Wholesum Foods as Business Mentor appeared first on Business of Food.

The post Successful Brand-Retailer Partnerships in Beverages appeared first on Business of Food.

The awards ceremony spotlighted the significant milestones achieved by the sector through collaborative yet distinctive initiatives aimed at enhancing competencies when servicing customers. The evening acknowledged excellence of brands  in numerous dimensions ranging from marketing and promotions to employee practices.

Sharing his thoughts on the 16th Coca-Cola Golden Spoon Awards, Nikhil Behl, CEO — Food Business, IMAGES Group, shared “Indian retail and FMCG industry retailers are taking note of this shifting consumer landscape. The achievements of the evening stands as a testament to the collective drive of the industry towards further upliftment of operations and establishment of a  sector which reflects the elements of  trust, determination and adaptability.”

Winners List:

Nature’s Basket won big at the ceremony taking home 5 awards across categories while Reliance Retail too bagged big at the 16th Coca-Cola Golden Spoon Awards.

IMAGES Most Admired Store Launch Of The Year – QMart Convenio (Debut), Nature’s Basket (flagship store launch)  & Nature’s Basket (new store launch –  Defence Colony, New Delhi)

IMAGES Most Admired Retailer Of The Year (Innovation & Merchandising) – Honey Smart Cart

IMAGES Most Admired Retailer Of The Year (Market Expansion) – Fresh Signature

IMAGES Most Admired Retailer Of The Year (Marketing & Promotions) – Nature’s Basket #TastetheWorld

IMAGES Most Admired Retailer Of The Year (ESG Initiatives) – Lulu Hypermarket for CSR Initiatives &  Truly desi for Green Initiatives

IMAGES Most Admired Retailer Of The Year (Single Store with highest YoY growth) – Freshpik, Jio World Drive, Mumbai 

IMAGES Most Admired Retailer Of The Year (Customer experience/Service/Acquisition) – Nuts N Spices

IMAGES Most Admired Turnaround Success Story Of The Year – MagSon Gujarat

IMAGES Most Admired Category Performer Of The Year:

1. Prasoon Bharadwaj, Reliance Retail for Staples
2. Zubin B. Nowrojee, Reliance Retail for Processed Foods and Savouries
3. Hemant Mecwan, Reliance Retail for Beverages & Confectionery
4. Suresh Kolama, Nature’s Basket for Fresh Foods
5. Mrinal Kumar, More Retail for Dairy
6. Tanaya Mehta, Nature’s Basket for International Food

IMAGES Most Admired Convenience Store of The Year – The New Shop

IMAGES Most Admired Gourmet Retailer Of The Year – Nature’s Basket

IMAGES Most Admired Regional Supermarket Of The Year (South) – Ratnadeep 

IMAGES Most Admired Regional Supermarket Of The Year (East) – Arambagh’s Foodmart

IMAGES Most Admired Regional Supermarket Of The Year (West) – Sahakari Bhandar

IMAGES Most Admired Regional Supermarket Of The Year (North) – Le Marche

IMAGES Most Admired Supermarket Chain Of The Year – Fresh Signature

IMAGES Most Admired Big Box Retailer Of The Year – Smart Bazaar

IMAGES Most Admired Brand Retailer Partnership Of The Year (Market Expansion & Sales Growth)

1. Daawat & Smart Bazaar
2. Nabati & More Retail

IMAGES Most Admired Brand Retailer Partnership Of The Year (Brand Building) – Women’s Horlicks & Apollo Pharmacy

IMAGES Most Admired Brand Retailer Partnership Of The Year (Retail Promotions) – More Retail & Genteel

IMAGES Most Admired Brand Retailer Partnership Of The Year (Merchandise Differentiation) – Aashirvaad Ready To Cook Chapati & Jio Mart

IMAGES Most Admired Brand Retailer Partnership Of The Year (Launch) – Dabur Hommade Chutney & Smart Point

IMAGES Excellence Award – Spencer’s Retail for Quick Commerce Execution & Cinepolis for concession counter execution

IMAGES Spice Icon Awards:

1. Spice Icon of the Year –  Adesh Kumar, National Category Head –  Spices, Reliance Retail
2. Customer Service Excellence – Raja M, National Category Head – Branded Staples, Big Basket
3. Trade Excellence Award — Gunjot Singh Kochar, Associate Director- Grocery B2C, Flipkart
4. B2B Excellence – Rajiv Triptathi, Category Head – Spices, Metro Retail
5. Modern Trade Partnership — Khathing Luiram, Dy General Manager, Buying & Merchandising, and Saurabh Bansal, Chief Merchandising Officer, Spencer’s Retail
6. Quick Commerce Excellence — Anish Srivastava, SVP-Blinkit
7.  Emerging Business Excellence — Saurabh Maheshwari, Senior Vice President, Zepto
8. Category Dressing Excellence Award — Adesh Kumar, National Category Head –  Spices, Reliance Retail

 OTIF Excellence — Amit Gautam, National Category Head- Spices – Vishal Mega Mart

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