These stores, set up over 8,000-12,000 square feet as compared to the usual 2,000-3,000 sq ft for Nature s Basket, will not only generate more revenues but add 1-2 percentage points to gross margins. The first Nature s Basket Artisan Pantry store opened last weekend in Mumbai s Palladium Mall. He also said a second store will open in Mumbai while Kolkata will get its first store by next month, and 3-5 stores next fiscal including in the National Capital Region and Bengaluru.
RP-Sanjiv Goenka Group Vice Chairman, Shashwat Goenka, expressed confidence in achieving profitability for the group s consumer business, encompassing retail giants like Spencer s Retail and Nature s Basket, along with the FMCG sector. This financial turnaround, targeted within the next two to three years, involves a strategic approach, including debt reduction through restructuring, loan repayment, store closures in unprofitable segments, and the introduction of high-margin luxury gourmet stores.