Date:16/12/2005 URL: http://www.thehindubusinessline.com/2005/12/16/stories/2005121601990800.htm

Back Wadhawan group plans supermarket chain

Our Bureau

Mumbai , Dec. 15

THE Mumbai-based Wadhawan group - promoter of Dewan Housing Finance Corporation Ltd - is planning a supermarket chain under the service mark `Spinach'.

Wadhawan Food Retail Pvt Ltd could have between 750 and 1,500 stores in the country, as a far-fetched target, said Mr Kapil Wadhawan, Director, Wadhawan Food Retail.

As a group, the promoters will be funding the venture completely on their own and are not likely to need any funds for the next three years, he said.

Spinach will come in various formats and will be positioned to be easy-to-shop-in local stores, a modern alternative to the kirana shops in localities, said Mr Dippankar S Halder, CEO of Spinach.

Spinach may not necessarily assume the large format that is visible today, said Mr Wadhawan.

"The kirana store is going to be our benchmark," said Mr Wadhawan.