Citykart, a value retail store chain that sells affordable fashion, home furnishings, general merchandise, has recorded a revenue of Rs. 560 crore in the fiscal year 2023 and expects a revenue of close to Rs 700 crore in FY24.
The company has 93 stores and has a strong presence across Tier-2, Tier-3 and Tier-4 cities. Sudhanshu Agarwal, founder and CEO said that over the next 3 years, the company plans to increase its store count to over 250 and there will be CAPEX of around Rs. 2 crore for each store.
Citykart also plans to ramp up its warehousing capabilities as currently, it has one centralised warehouse in Gurugram which serves as a supply centre for all its stores across the country.
The company will also invest significantly into adopting technology and integrating apps and tools to control and add efficiency to its stores.
It is worth mentioning here that Citykart does not sell online and the company strongly believes that there is nothing that can surpass what offline retail provides, both for brands as well as consumers.
