LOTS Wholesale opens second store in Delhi-NCR

LOTS Wholesale Solutions, a 100 per cent subsidiary of Thailand-based Siam Makro PCL, which is a part of $50 billion Charoen Pokphand Group, on Thursday, launched its second store in Delhi-NCR region in Akshardham.

The company, which forayed into India this year, had launched its first distribution centre in July in Netaji Subhash Place, New Delhi. The newly launched store will cater to over 45,000 registered business customers which include hotels, restaurants and caterers (HoReCa), kirana stores, corporates, MSMEs and institutions such as government agencies, educational institutes and hospitals.

The company has over one lakh registered customers so far in both its stores. Spread over an area of more than 53,000 sq ft, the store also offers last mile delivery to its registered members.

The store was launched by Amitabh Kant, CEO, NITI Aayog in an inaugural event in New Delhi. "The facility is all set to cater to the requirements of our members in East Delhi and nearby catchment areas. Through this store, the business customers of LOTS Wholesale Solutions will have a wide range of more than 5,000 food and non-food products to select from," Tanit Chearavanont, Managing Director, LOTS Wholesale Solution said commenting on the launch of the new store.

LOTS Wholesale Solutions operates in wholesale cash and carry segment and plans to open 15 wholesale distribution centres across North India with an investment of over Rs 1,000 crore in the next five years.

It has already opened two stores in the NCR regions and now plans to open a third one in Noida by the end of this financial year. The company, which invests on an average Rs 60-70 crore in one centre, is also looking at opening stores in Lucknow, Kanpur, Varanasi, Jalandhar, and Kolkata. It already has in place a collection centre in Haryana to collect fresh produce from farmers.

"From our first store, we have exceeded whatever expectation we had set. We have been getting very good responses and at peak time we are getting over 1500 walk in customers," Tanit Chearavanont, Managing Director, LOTS Wholesale Solution told Business Today.

Because of the real estate challenges in the country, the company has decided to open 25,000-50,000 sq ft stores inside the cities instead of outskirts. "If we build centres out of the city, it is very difficult for the people to travel. That is the reason why we continue to focus on building stores where the catchment is," he added.