Now as we all are witnessing the premium goods and services are rising in India right now. So by looking at this now the RP Sanjiv Goenka Group company Spencer Retail Limited is now adding a new luxury format to the gourmet retail chain, Nature Bakset which is known as Artisan Pantry. Spencer has now taps the affluent India with Artisan Pantry. At this time Nature Basket is operating a total of 32 stores as the upmarket food retailer. This recently announced news is now the biggest breaking news in the market. So to know all the details, read this article till the last.
RP Sanjiv Goenka Group officially acquired Nature Basket Limited from Godrej Industries Limited for a total of Rs. 300 crore in 2019. At this time Nature Basket is operating 32 stores as the upmarket food retailer. It has been reported that the Artisan Pantry is going to be more luxe as it is offering imported wines, cheese, artisan chocolates, gourmet fruits, honey, vegetables which include lemon, yuzu, multicolored corn, Japanese Apple Fuji, and some more. The company has said that if you focus on the Nature Basket which is a space of gourmet railing. What the company is doing with the new Nature Basket Artisian Pantry is a very different concept and it is redefining it and the company is transforming it into luxury.
The Chairman of Spencer Retail, Shashwat Goenka has recently said in the virtual media roundtable that three Asrtisian Pantry stores are going to open in Kolkata and Mumbai by 31st March 2023 a further three to five stores in 2025. He has also said that the first store in Mumbai Palladium Mall is spanning 12,500 square feet and it is going to open this weekend. The average Nature Basket store is around 2,500 square feet investment is going to open in the range of Rs. 35 crore. Goenka added that they are going to give them more revenue per store.
At this time the concept of the upmarket grocery stores is mostly popular in the West where there is a format of Harrods Food Hall and there is also a format which M&S Foods in India. Chains that are based in NCR like Modern Bazaar and now the shuttered Food Hall have also tried to fulfill this demand for the expensive new and packaged foods in the pockets of Delhi, NCR, Bengaluru, Mumbai, and some other cities.