Godrej Group retail chain Nature's Basket plans big expansion

Godrej Nature's Basket, the retail venture of the Godrej Group, is investing around Rs12 crore to expand the number of stores across India to 32 from the current 16.

The retail chain, which started off with its maiden store in Mumbai, in 2005, opened its 15th store in Hyderabad before opening the Bangalore store, its 16th.

As of now, Nature's Basket has stores in New Delhi, Pune and Gurgaon among others.

Of the 16, nine are already earning profit and the gourmet food retailer hopes to break even in 18-24 months.

With the average individual spending on gourmet foods in India more than doubling over the past three years, the company is also planning to ramp up operations with increased offerings at the stores.

Nature's Basket is planning to ramp up operations in western, northern and southern markets where there is huge scope for growth. The retail chain also hopes to benefit from the consumer awareness created by big food brands.