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Kisanserv, a bootstrapped retail company specialising in fresh fruits and vegetables, is targeting to open 250 stores in the coming years.
A company statement said the company opened its first retail store in January 2023, and expanded the number of stores to 22 stores across Pune and Mumbai.
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The statement said this organic growth has set the stage for expansion to 250 stores with a revenue target of ₹500 crore over the next three years, a significant leap from the current ₹35 crore revenue reported for the most recent fiscal year.
As Kisanserv expands to 250 stores, it expects to create 2,000 direct jobs and 4,000-5,000 indirect jobs, focusing on hiring from local communities and prioritizing female staff, it said. Following this initial phase of expansion, the company plans to scale up to 1,000 stores, entering new markets such as Bengaluru, Hyderabad and Chennai.
Higher income
Quoting Niranjan Sharma, CEO of Kisanserv, the statement said: “Our success so far is a testament to our commitment to transparency, sustainability, and customer satisfaction. By eliminating middlemen, we’ve been able to offer fresher produce at significantly lower prices while ensuring that farmers receive more than double their traditional earnings. This approach not only empowers farmers but also delivers exceptional value to our customers.”
The company currently generates ₹41,000 per sq ft per year. With the planned expansion, it aims to increase this to ₹65,000 per sq ft per year.
The company operates neighbourhood convenience stores, each approximately 300 sq ft, and offers an online shopping experience through the Kisanserv Express app. Currently, 70 per cent of Kisanserv’s revenue comes from in-store sales, with online transactions contributing 30 per cent, the statement said.
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