Synopsis
In the last fiscal, a dozen companies including Reliance Retail, Aditya Birla Fashion and Retail (ABFRL), D-Mart, Tata s Trent and Starbucks added 1,350 outlets to reach a combined store network of 21,224 stores, according to data sourced from annual reports and investor presentations. In FY19-20, their overall store strength was 19,874.
Companies also accelerated store launches to take advantage of lower rates as rent at marquee properties, especially at high street fell to a three-year low, said experts.
Top listed retailers and quick service restaurant chains opened nearly four new stores every day on an average during FY21, despite Covid restrictions forcing them to shutter existing ones and delayed construction for several weeks.